Case Study: Industry Price Management – Specialty Chemicals
Challenge: A specialty chemicals firm was facing extreme price compression across the globe in a highly consolidated industry and sought to identify a route to anticipate competitive responses to a price increase.
Approach: The specialty chemicals firm engaged Wiglaf Pricing to analyze past competitive actions and responses, the current competitive position of the industry competitors, and the likelihood of success of a price increase. Alternative competitive actions were considered as well as their likelihood of improving the health of the industry.
Result: Wiglaf Pricing clarified the various competitive threats and anticipated responses, identified a risk-mitigation strategy, and tendered a suggested route to optimizing the firm’s financial performance and improving the industry’s health.