CHOOSING A PRICING METHOD IN THE FMCG RETAIL SECTOR IN CONDITIONS OF HIGH INFLATION

UDC 338.534
DOI: 10.36871/ek.up.p.r.2024.03.04.012

Authors

Lev K. Nevrotov,
Immanuel Kant Baltic Federal University, Kaliningrad, Russia

Abstract

The article touches on methodological approaches to pricing in the FMCG retail sector. The main types of pricing strategies of trading companies are studied: competitive and differentiated prices. A step-by-step process for regular pricing within the competitive pricing strategy is presented. The role of demand elasticity in pricing is revealed. The tools for implementing the differentiated pricing strategy are provided. Recommendations on the optimal set of pricing methods, aimed at mitigating the negative effects of high inflation in retail trade, are given.

Keywords

pricing, retail, FMCG, inflation, KVI products, the competitive pricing strategy, the differentiated pricing strategy.