Finance, marketing executives expect limited pricing power.
Position | PRICING |
A majority of chief financial officers and chief marketing officers are holding the reins tightly when it comes to price competitiveness and increasing costs, expecting limited pricing power in the near future, a recent study concludes.
The study, conducted by consulting and technology firm Accenture, found that 85 percent of the 1,000 surveyed CFOs and CMOs expect their companies to grow at a rate equal to, or significantly greater than, most global growth forecasts. But nearly 90 percent regard price competitiveness as a primary strategic issue and expect to continue to maintain or cut costs and build cash positions further.
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Executives in the survey represent companies in eight industries and 12 leading economies in both developed and emerging markets. It was conducted to gain better insight into how CFOs and CMOs balance pricing, cost and cash management to optimize profitability.
Nearly half of the participants believe their companies will grow by more than 6 percent annually over the next 18 months--nearly double most consensus forecasts for global GDP growth. Yet the study also found that continued economic uncertainty has resulted in companies taking a more disciplined approach to growth, with a renewed emphasis on sustained cost management and the prudent use of cash to increase revenue opportunities and profits.
Additionally, 71 percent say pricing is now among...
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