Top Blogs: Price Increases & Cost Reductions: A Recipe for Channel Conflict – or Harmony?
Firms driven by strategy rather than short-term earnings consider the long run when making price and cost decisions.
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By Mike Marks, managing partner, Indian River Consulting Group
As we face ongoing shocks to the economy, everybody in the value chain will face the same challenges: Some price increases won’t stick, some cost reductions won’t be enough, and businesses that are undercapitalized will continue to fail. Many will negotiate extended terms before they file. And as customers try to navigate their own challenges, many will change distributors and even brands.
Those companies that make it through this pandemic will have earned or changed their reputation, for better or worse, based on their actions. Price increases and cost reductions were one of the earliest and most persistent actions taken in the channel.
Those firms driven by strategy rather than short-term earnings considered the long run when making price and cost decisions.
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Mike Marks co-founded IRCG in April 1987. He began his consulting practice after working in distribution management for more than 20 years. Over the years, his narrow focus in B2B channel-driven markets has created an extensive number of deep executive relationships within virtually every business vertical in construction, industrial, OEM, agricultural, and healthcare. Contact him at mmarks@ircg.com or visit the website: https://www.ircg.com
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