Preços em mercados emergentes - sempre complicados de se tornarem mais frigidores de multinative, as taxas de inflação, e a mudança de alterações e as mudanças de Mestre. Essas empresas enfrentam a crescente concorrência, de outras multinacionais em nichos premium e de gigantes locais em segmentos de mercado intermediário, que está espremendo as margens de lucro das multinacionais em muitos mercados emergentes. Além disso, tradicionalmente os consumidores conscientes de valor se tornaram ainda mais Sensível ao preço Nestes tempos de crescimento mais lento e inflação mais alta. Os preços são frequentemente uma reflexão tardia, mesmo entre as multinacionais, em mercados emergentes. Além disso, os métodos de preços testados pelo tempo que as empresas usam em seus mercados domésticos simplesmente não trabalham no exterior. Os executivos descobrem, para sua surpresa, que os consumidores nos mercados emergentes visualizam produtos e serviços - e seu valor - com frequência dos consumidores nos mercados desenvolvidos. Além disso, poder de gastar, disposição de pagar, segmentos de consumidores e marketing, distribuição e venda de produtos e serviços também diferem em mercados emergentes.
Compounding the problem is a lack of reliable consumer data and competitive information. Pricing is often an afterthought, even among MNCs, in emerging markets. Moreover, the time-tested pricing methods that companies use in their home markets simply don’t work abroad. Executives discover, to their surprise, that consumers in emerging markets view products and services—and their value—differently from consumers in developed markets. What’s more, spending power, willingness to pay, consumer segments, and the marketing, distribution, and selling of products and services also differ in emerging markets.
Todos esses fatores exigem um manual de preços fundamentalmente novo - um que aborda não apenas os níveis de preços, mas também as estruturas de preços, as promoções e os termos pelos quais os produtos devem ser vendidos para distribuidores e varejistas. À medida que os mercados emergentes evoluem em um ritmo estonteante, as empresas inteligentes mantêm sua eficácia de preços implantando seis estratégias dinâmicas. Essas visões são o subproduto de vários fatores - incluindo níveis de renda, padrões de consumo, gostos, preferências religiosas, clima e tendências da moda - e geralmente contrastam radicalmente com as opiniões dos consumidores no mundo desenvolvido. Isso permite que as empresas comandem os preços mais altos que os dos rivais locais e se expandam para novos nichos, especialmente porque o apelo das marcas das multinacionais é geralmente distinto da das marcas locais. Quando a empresa começou a segmentar clientes em economias emergentes, descobriu que os desenvolvedores residenciais eram mais ansiosos do que os desenvolvedores comerciais para comprar seus elevadores, principalmente porque os produtos eram mais confiáveis do que os fabricantes locais. A confiabilidade é um critério de compra importante nos mercados emergentes, porque menos bancos de elevadores são instalados em edifícios de apartamentos do que em edifícios semelhantes no mundo desenvolvido. Embora os construtores e contratados apreciassem a maior confiabilidade dos produtos, eles não estavam dispostos a pagar muito mais por isso. E eles relutavam em aceitar que custos de manutenção mais baixos e níveis mais altos de satisfação do cliente superariam o aumento dos investimentos iniciais. A empresa também tentou mudar as chances a seu favor trabalhando com os principais atores no processo de tomada de decisão. Por exemplo, lançou uma campanha de comunicação para convencer os compradores de apartamentos e empresas de gerenciamento imobiliário a fazer com que os construtores instalassem seus elevadores. Com o tempo, esse esforço ajudou a empresa européia a abrir o segmento residencial em várias economias emergentes. Isso é em parte por causa da escassez; Muitos mercados emergentes foram fechados para concorrentes externos por décadas; portanto, quando as multinacionais finalmente foram autorizadas a entrar, eles encontraram uma enorme demanda reprimida por suas marcas. A imagem maior do que a vida que as empresas estrangeiras desfrutam permite cobrar preços mais altos por muitos anos após entrar em um mercado emergente, até que a exigência de platôs ou a oferta se expanda substancialmente. Os consumidores tradicionalmente acreditam que os produtos de certos nações são os melhores: chocolates belgas, vinhos franceses, máquinas -ferramentas alemãs, couro italiano, relógios suíços e assim por diante. Empresas inteligentes identificam os efeitos do país de origem que se aplicam às suas ofertas e fatoram-os em seus preços. Um exemplo clássico é o Levi Strauss & Co., que desenvolveu jeans jeans em 1873. A autenticidade totalmente americana dos produtos continua a ressoar fortemente em vários mercados emergentes, permitindo que a empresa cobre um prêmio. Um preço único permite que as empresas maximizem as margens de lucro, protejam a marca, atraiam os consumidores certos e se destacem do pacote. Além disso, as multinacionais se preocupam em confundir os consumidores com vários preços, principalmente porque segmentar o mercado é um desafio devido à falta de dados adequados sobre renda e poder de compra. (Consulte “Mitos de preços de desmembramento em mercados emergentes.”)
Understand Local Perceptions
Although it’s tough for many MNCs to accept, consumers in emerging markets perceive the advantages and disadvantages of products and services—both consumer and business—in idiosyncratic ways. Those views are the byproduct of several factors—including income levels, consumption patterns, tastes, religious preferences, climate, and fashion trends—and they usually contrast radically with the views of consumers in the developed world.
Smart MNCs figure out the innate local appeal of their products and services in each emerging market and then formulate pricing strategies around them that maximize profits. This allows the companies both to command prices that are higher than those of local rivals and to expand into new niches, especially since the appeal of MNCs’ brands is usually distinct from that of local brands.
Consider, for instance, a European leader in the elevators market that usually sells its products to builders of office complexes. When the company began to target customers in emerging economies, it discovered that residential developers were more eager than commercial developers to buy its elevators, primarily because the products were more dependable than those made by local manufacturers. Reliability is a key purchase criterion in emerging markets because fewer elevator banks are installed in apartment buildings there than in similar buildings in the developed world.
Complications arose, though, when the company switched its sights from the commercial segment in emerging markets to the residential and priced its products at a premium. While builders and contractors appreciated the greater dependability of the products, they weren’t willing to pay much more for it. And they were reluctant to accept that lower maintenance costs and higher levels of customer satisfaction would outweigh the increased upfront investments.
To counter those concerns, the European company started educating builders about how and why it is appropriate to pay more for better quality. The company also tried to shift the odds in its favor by working with key players in the decision-making process. For instance, it launched a communications campaign to persuade apartment buyers and real estate management companies to get builders to install its elevators. Over time, that effort helped the European company crack open the residential segment in several emerging economies.
Capitalize on Cachet
Most global brands enjoy a higher status in emerging markets than they do in developed markets, particularly when they are first launched. This is partly because of scarcity; many emerging markets had been closed to outside competitors for decades, so when MNCs were finally allowed to enter, they found an enormous pent-up demand for their brands. The larger-than-life image that foreign companies enjoy enables them to charge higher prices for many years after entering an emerging market, until either demand plateaus or supply substantially expands.
The phenomenon becomes more pronounced when a company hails from a part of the world that has garnered a reputation for making a specific product. Consumers traditionally believe that certain nations’ products are the best: Belgian chocolates, French wines, German machine tools, Italian leather, Swiss watches, and so on. Smart companies identify the country-of-origin effects that apply to their offerings and factor them into their pricing. One classic example is Levi Strauss & Co., which developed denim jeans in 1873. The products’ All-American authenticity continues to resonate strongly in several emerging markets, allowing the company to charge a premium.
Create Price Ladders with Very Low Bottom Rungs
It’s easy to believe that a single price for a single product works best in crowded emerging markets. A single price allows companies to maximize profit margins, protect the brand, attract the right consumers, and stand out from the pack. Moreover, MNCs worry about confusing consumers with several prices, particularly given that segmenting the market is challenging because of the lack of adequate data on incomes and purchasing power. (See “Debunking Pricing Myths in Emerging Markets.”)
DEBUNKING PRICING MYTHS IN EMERGING MARKETS
As emerging markets become more mature, mistaken beliefs about pricing seem only to gain ground. Here are five myths that multinationals should tackle.
Myth 1: Prices are much lower in emerging markets than in developed markets.
While it’s true that consumers in emerging markets are, on average, less affluent than their counterparts in the developed world, income levels do vary and include both a growing middle class and a relatively wealthy bracket. Incomes and aspirations are also rising across the board, which has spurred greater spending. Companies can—in fact, they must—carefully segment the market when drawing up their pricing strategies.
Myth 2: Premium pricing doesn’t work because people just won’t pay for additional features and services.
In several segments, and not just at the top of the market, consumers are more than willing to pay global prices. That’s partly because consumers in emerging markets place a higher value on new features and state-of-the-art technology than do their counterparts in developed markets. Because those consumers seek out brands for both the cachet and the guarantee of quality that they provide, it’s sometimes easier to build premium brands in emerging markets.
Myth 3: Traditional retailers don’t worry about pricing.
Traditional retailers are often closer to consumers—and have sharper insights into consumer behavior, including price-related trends—than modern retailers. They can gauge shoppers’ reactions quickly and adjust the product mix and prices on the fly. Many emerging-market consumers, even in cities, browse modern stores for ideas and fun but prefer to make purchases in traditional shops, where service is usually better.
Myth 4: Promotional pricing in emerging markets only ends up hurting companies’ brands and images.
Consumers in emerging markets love bargains—and bargaining—and are avid shoppers, too. Consequently, promotions and discounts, especially on new offerings, work well in the short run. However, as in developed markets, companies can’t rely solely on discounts; they must figure out the right mix of regular and promotional pricing to maintain their long-term brand images.
Myth 5: Consumers in emerging markets make decisions based only on (low) prices, not features or quality.
Consumers at all income levels in emerging markets consider factors other than price when making purchase decisions. Key among those factors: quality, locally relevant features and services, product and service performance, and brand image. Consumers usually compare several options and are willing to pay hefty premiums for features that matter to them. Many consumers even factor in travel costs to the purchase equation, so convenient retail locations and competitive prices are important for success.
However, MNCs that adopt a single-price model don’t make the most of their pricing power. One price, however carefully chosen, will inevitably result in missed opportunities: some buyers would have paid more, while potential buyers would have made a purchase if only the price had been lower. The best way to tackle this issue, particularly in economies with large income disparities, is to offer an array of products at numerous price points.
Unlike in the developed world, where price ladders usually have three rungs, smart companies in emerging economies create price ladders with four: basic, good, better, and best. In this model, the bottom rung is very low, while the top rung is aspirational, thus enhancing perceptions about the product.
Companies benefit both by reaping higher margins from some customers and by serving those who would never have bought had lower-priced options not been available—critical for continued growth in emerging markets. For example, when a global manufacturer began to sell its consumer food products in Brazil, it launched an inexpensive new product in snack-size packs under a lesser-known brand name to woo entry level consumers in suburban and rural markets. At the same time, it expanded the distribution of its more familiar brands to other parts of the country in larger sizes and at higher price points. The moves helped the company make inroads into both markets.
Another benefit of creating a four-tier price ladder is that customers gradually become more comfortable with the idea of paying higher prices for more features and new technologies. The European elevator giant we mentioned earlier, for instance, initially launched only one product in emerging markets but later decided to sell several products, offering advanced features at higher prices. When buyers realized that they would give up features to get a lower price, many passed up the lowest-priced products in favor of the relatively more expensive intermediate versions. Thus, the multitiered pricing structure enabled the company to generate higher revenues than those it would have realized if it had clung to a single price point.
Cobra mais por menos
Muitas multinacionais começam em mercados emergentes, visando o topo da pirâmide, responsável por cerca de 1% da população e 20% do consumo. Mais tarde, eles tentam entrar no meio do mercado, o que é muito maior, representando 30% a 50% dos habitantes e cerca de 50% do consumo. No entanto, os níveis de renda da classe média nos mercados emergentes são mais baixos do que estão no oeste; portanto, o consumo per capita de quase tudo é bastante baixo pelos padrões de economia desenvolvida. As empresas normalmente fazem isso para evitar amarrar dinheiro escasso no inventário, enquanto os consumidores costumam fazer isso para permanecer dentro dos escassos orçamentos. As empresas inteligentes lidam com isso alterando os tamanhos dos contêineres nos quais os produtos são embalados, o que afeta os preços. Por exemplo, uma empresa de alimentos americana que faz negócios no México descobriu que os consumidores rurais que compraram seus produtos procuravam fazer apenas pequenas compras, geralmente equivalentes a bem abaixo de um dólar. A empresa percebeu que a oferta de pacotes menores era essencial para garantir que os consumidores locais comprem mais. As multinacionais podem se dar ao luxo de otimizar os preços para obter o máximo de lucro, se não mais, do que com pacotes maiores. Um líder baseado nos EUA no negócio de óleo de cozinha, por exemplo, determinou que ele teria que oferecer produtos em pequenos contêineres se quisesse atrair consumidores na Índia. Embora seus custos de embalagem tenham aumentado, a empresa começou a cobrar mais por litro quando vendeu o produto em recipientes menores. Isso permitiu obter lucros mais altos e manter o posicionamento de luxo. Curiosamente, a empresa ficou confundida com o fato de que suas vendas continuavam aumentando em áreas rurais, por isso enviou representantes para descobrir o porquê. As visitas revelaram que os lojistas estavam comprando grandes contêineres, abrindo -os e revendendo o produto pela colher ou na xícara. Claramente, não é suficiente apenas estudar dados em mercados emergentes. Nos mercados emergentes, os canais de varejo modernos apresentam formatos e meios de serviço mais recentes-como supermercados, hipermercados, cadeias de fast-food, salões de beleza e centros de fitness-que oferecem sortimentos mais amplos, melhor ambiente e marcas de maior qualidade. Como esses canais dependem fortemente de promoções e preços para atrair clientes, eles oferecem os preços mais baixos, desenvolvem sistemas sofisticados de incentivo para promoções e posicionamento nas lojas e prosperam com a publicidade co-patrocinada. O gerenciamento de dinheiro é fundamental para esses canais, portanto, eles esperam que as multinacionais ofereçam incentivos financeiros na forma de condições de pagamento liberais e retornos ilimitados. Além disso, essas lojas de mamãe e pop mantêm baixos inventários que exigem reabastecimento frequente e dependem da rápida rotatividade para a sobrevivência. A escolha do mix ideal de produtos, portanto, é muito importante. Por exemplo, algumas multinacionais fornecem lojas com refrigeradores de marca para garantir a distribuição de cerveja, enquanto outros criam pacotes promocionais que podem ser anexados às prateleiras com clipes, aumentando assim o espaço da prateleira. Eles precisam coletar os preços de venda e esgotamento dos produtos, calcular as margens e monitorar os preços esgotados para garantir que as metas estejam alinhadas. Se o objetivo de um fabricante for maior penetração no mercado, mas seu distribuidor deseja maximizar os lucros, por exemplo, os dois devem trabalhar juntos para descobrir um preço que se adequa a ambos. Considere, por exemplo, um editor de livros didáticos americanos que lançou seus produtos em um país asiático, onde dois distribuidores dominaram o mercado. Percebendo que os preços dos distribuidores não estavam aumentando nem as vendas nem a amostragem, a empresa americana analisou os números para descobrir para os quais os níveis e a demanda de tópicos e tópicos eram os mais sensíveis ao preço. Em seguida, ele incorporou cupons de desconto de rasgo na embalagem dos livros didáticos para esses segmentos, reduzindo efetivamente os preços. Isso ajudou a aumentar as vendas sem comprometer os relacionamentos da empresa com os poderosos distribuidores.
Companies and consumers in emerging economies are usually willing to buy only small quantities at a time. Companies typically do so to avoid tying up scarce cash in inventory, while consumers often do so to remain within meager budgets. Smart companies deal with that by changing the sizes of the containers in which products are packaged, which affects pricing. For example, an American food company doing business in Mexico found that rural consumers who bought its products sought to make only tiny purchases, usually equivalent to well under a dollar. The company realized that offering smaller packages was essential to ensure that local consumers would buy more.
Lower prices for smaller packages needn’t result in smaller profits, however; MNCs can afford to optimize pricing to make as much, if not more, profit than they do with larger packages. A US-based leader in the cooking-oil business, for instance, determined that it would have to offer products in small containers if it wanted to attract consumers in India. Although its packaging costs rose, the company started charging more per liter when it sold the product in smaller containers. That enabled it to both earn higher profits and hold on to its upmarket positioning. Interestingly, the company was initially befuddled by the fact that its sales kept rising in rural areas, so it sent out representatives to discover why. The visits revealed that shopkeepers were buying large containers, opening them, and reselling the product by the spoonful or cupful. Clearly, it isn’t enough to just study data in emerging markets.
Tailor Pricing to the Channel
Distribution and retail channels in emerging markets can be classified as either traditional or modern, and the two categories influence pricing strategies differently. In emerging markets, modern retail channels feature newer formats and service outlets—such as supermarkets, hypermarkets, fast-food chains, beauty parlors, and fitness centers—that offer wider assortments, better ambience, and higher quality brands. Because these channels depend heavily on promotions and prices to attract customers, they offer the lowest prices, develop sophisticated incentive systems for in-store promotions and positioning, and thrive on cosponsored advertising.
Traditional retail channels, by contrast, are smaller in terms of area, the size of the workforce, and the number of SKUs in which they invest. Managing cash is critical for such channels, so they expect MNCs to offer financial incentives in the form of liberal payment terms and unlimited returns. What’s more, these mom-and-pop stores maintain low inventories that require frequent replenishment, and they depend on quick turnover for survival. Choosing the optimal product mix, therefore, is very important.
Companies must often make direct investments in traditional retail. For instance, some MNCs supply stores with branded coolers to ensure beer distribution, while others create promotional packs that can be attached to shelves with clips, thereby increasing shelf space.
Wholesalers possess enormous influence in emerging markets, so companies must oversee them closely. They have to collect the sell-in and sell-out prices of products, calculate margins, and monitor the sell-out prices to ensure that goals are aligned. If a manufacturer’s aim is greater market penetration, but its distributor wants to maximize profits, for example, the two must work together to figure out a price that will suit both.
Manufacturers must also educate distributors about the most effective pricing models. Consider, for instance, an American textbook publisher that launched its products in an Asian country where two distributors dominated the market. Realizing that the distributors’ prices were increasing neither sales nor sampling, the American company crunched the numbers to figure out for which grade levels and topics demand was the most price sensitive. It then incorporated tear-off discount coupons into the packaging of the textbooks for those segments, effectively reducing prices. That helped boost sales without jeopardizing the company’s relationships with the powerful distributors.
Empresas nos mercados emergentes também devem desenvolver soluções inovadoras para outros problemas, como a arbitragem, nos quais os produtos são comprados em mercados de baixo preço e vendidos em mercados de alto preço. Um fabricante de cimento transnacional descobriu que a oferta de descontos pode evitar a arbitragem. A empresa fornece um código de barras para todos os caminhões de seus revendedores, e esse código de barras deve ser digitalizado em pontos de verificação não tripulados localizados entre as fábricas e os mercados. Duas fotos são tiradas nesses postos de controle, incluindo um dos principais caminhões, para verificar se todos os sacos de cimento ainda estão no caminhão e estão a caminho de chegar ao mercado pretendido. As informações são então transmitidas sem fio para um servidor central e, no final de cada mês, os revendedores da empresa recebem descontos monetários com base nos dados coletados nos pontos de verificação. Esse processo praticamente eliminou a arbitragem e levou a um retorno adicional de 1% das vendas da empresa. Como as empresas locais não precisam se preocupar com políticas globais, repercussões ou folgas da sede, elas podem aumentar ou diminuir os preços rapidamente, expandir -se rapidamente para novos mercados de produtos e geográficos e exercer qualquer influência que possam ter com os governos locais, se necessário, para adotar regras favoráveis e regulamentos. Geralmente, existem três estágios: introdutório, crescimento e maturidade. As empresas projetam preços introdutórios para destacar os benefícios de novos produtos e serviços e reduzir a incerteza em torno dos ensaios, mesmo enquanto tentam manter a liberdade de aumentar os preços posteriormente. Isso envolve preços de teste, produtos e serviços sensíveis ao tempo e, é claro, descontos. Raramente significa reduzir os preços publicados. Na Indonésia, por exemplo, quando uma startup de propriedade de um conglomerado de telecomunicações chinês ofereceu voz, texto e dados por uma taxa fixa todos os meses, ele obteve crescimento de assinantes de dois dígitos por um longo tempo. Isso ocorre porque os elaborados planos de preços dos líderes de mercado, projetados para gerar as receitas máximas por cliente, tornaram -se complicadas e confusas. Se as vendas continuarem a aumentar, mas começarem a desacelerar, o produto poderá ter entrado em maturidade. Os lucros serão mais altos do que costumavam ser, mas a concorrência dificulta a aquisição de novos usuários. Proteger a participação de mercado se torna a prioridade durante o estágio de maturidade; portanto, o desconto se torna essencial. Seu crescimento pode nunca se tornar linear, mas o caminho a seguir pode ser determinado usando técnicas como jogos de guerra. Durante um jogo de guerra, equipes internas, reforçadas por especialistas externos, simulam a compra e a venda. Os resultados geralmente são contra -intuitivos. Antes de enviar sua oferta, a empresa conduziu um jogo de guerra. Os resultados sugeriram que, como resultado de vários fatores, o campo de petróleo pode se tornar menos lucrativo ao longo do tempo. A empresa decidiu inteligentemente carregar seus preços à frente, para que seus contratos se tornassem parte do orçamento de capital para a construção do projeto, em vez de parte do orçamento de manutenção, que pode eventualmente se tornar sujeito a corte de custos e negociação. Isso permitiu que a corporação maximizasse os lucros imediatamente. Poucas multinacionais, portanto, provavelmente vencerão nos mercados emergentes, a menos que aprendam a criar estratégias inovadoras de preços e implantá -las com mais eficiência. Parceiro sênior; Líder global, impacto social
Change Pricing by Stage
MNCs in emerging markets tend to underestimate local companies, which often use homegrown brands and well-established channel relationships to dominate the market. Because the local businesses don’t have to worry about global policies, repercussions, or clearances from headquarters, they can raise or lower prices quickly, expand rapidly into new product and geographic markets, and exert whatever influence they might have with local governments, if necessary, to enact favorable rules and regulations.
MNCs, therefore, have no choice but to follow a staged pricing strategy. There are usually three stages: introductory, growth, and maturity. Companies design introductory pricing to highlight the benefits of new products and services and to reduce uncertainty around trials even as they try to retain the freedom to increase prices later. This involves time-sensitive trial pricing, product and service guarantees, and, of course, discounting. Rarely does it mean slashing published prices.
Flat pricing is an effective introductory pricing structure in markets where a structure of fixed fees plus variable charges predominates. In Indonesia, for example, when a startup owned by a Chinese telecommunications conglomerate offered voice, text, and data for a flat fee every month, it notched up double-digit subscriber growth for a long time. That’s because the market leaders’ elaborate pricing plans, designed to generate the maximum revenues per customer, had become complicated and confusing.
When MNCs enter the growth phase, those that started out with high prices will typically continue selling at high prices to maximize profits, while those trying to build market share will reduce prices. If sales continue to increase but begin to slow down, the product may have entered maturity. Profits will be higher than they used to be, but competition will make it difficult to acquire new users. Protecting market share becomes the priority during the maturity stage, so discounting becomes essential.
It’s important to remember that, historically, emerging markets have changed more rapidly than developed markets have. Their growth may never become linear, but the path forward can be determined by using techniques such as war gaming. During a war game, internal teams, reinforced by outside experts, simulate buying and selling. The results are often counterintuitive.
For example, a provider of offshore support vessels recently bid on a South American oil field development project as a member of a global consortium. Before submitting its bid, the company conducted a war game. The results suggested that, as a result of various factors, the oil field might become less profitable over time. The company smartly decided to front-load its pricing so that its contracts would become part of the capital budget for the project’s construction rather than part of the budget for maintenance, which might eventually become subject to cost-cutting and negotiation. Doing so enabled the corporation to maximize profits right away.
Pricing may not be the glitziest element in the marketing mix, but when carefully considered and applied, it often proves to be the most powerful. Few MNCs, therefore, are likely to win in emerging markets unless they learn how to come up with innovative pricing strategies and deploy them more effectively.
