Choose the right price and share your value fairly throughout the chain

Choose the right price and share your value fairly throughout the chain
Photo by Karine Avetisyan / Unsplash

Review the pricing architecture of the category market then set the premium price architecture at a level that will be sustainable, aspirational and reinforces the proposition.

There is often a sweet spot for RRP (Recommended Retail Price) for a Gin, a Vermouth, a beer in a market but do not get fooled that your product should be in that bracket. You need to consider all the parties involved in the RTM and ensure that everybody has their fair share of value. You may have to go too high with your price if you want to keep too much of the value chain.