Pricing and Promotion
Ability to understand, develop, and implement pricing and promotion initiatives that support the Hannaford pricing strategy
Foundation
Advanced
Mastery
Understands pricing and promotion tactics to drive category growth
Recommends pricing and promotion solutions based upon strategic direction
Identifies pricing & promotion tactics to gain significant and substantial competitive advantage
• Understands the difference between variable and fixed costs in a standard cost model • Conducts post event analyses to understand why specific events have been successful or unsuccessful • Executes successful in-store & online promotional events • Understands promotional mix • Understands how promotional drivers are a pplied in-store & online, including all traditional & digital marketing channels used by Hannaford • Understands retail margin calculations and targets, including those for eCommerce • Is aware of basic in-store & online marketplace pricing and promotional strategies for assigned categories • Understands how online competitive pricing is tracked • Understands additional factors which may impact price (e.g.Reclaim/SWELL allowances and Cash Discount/Payment terms) • Understands basic use of pricing tools s uch as Revionics • Adheres to regulatory measures that pertain to the category (i.e. laws, WIC, etc.)
• Understands the relationship between National and Private Brands pricing s trategy • Understands size/value relationship for pricing • Understands the in-store & online cost drivers that can be manipulated to deliver a particular goal • Understands how in-store & online pricing, promotional strategies and the competitive environment impact forecasts and plans • Recommends adjustments to promotion tactics to solve unanticipated problems which arise • Understands the concept of price elasticity and price gaps • Develops a response to competitive pricing actions • Determines the longer-term impact of in-store & online promotion tactics on business results • Understands application and solutions provided by Revionics and other tools • Understands how weighted average price impacts decisions • Manages pricing guardrails from the pricing strategy • Understands how online competitive pricing is tracked and its impact on Hannaford’s pricing
• Develops pricing strategies which incorporate price elasticity, thresholds, cost components, commodity impacts, as well as the impact of volume, market share and promotion • Develops innovative promotion strategies and initiatives to drive traffic and volume • Makes recommendations concerning promotion depth for specific situations • Trains and mentors' others on advanced use of pricing and other tools s uch as Revionics • Collaborates with others to assure the relevance of the pricing strategy, guardrails, constraints and business rules
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