The Right Time For A Right Price Strategy
14 years ago
2937 views
Posted
16th August, 2010 13h34
Hill’sTM Pet Nutrition says that the company’s right price strategy has come at exactly the right time for veterinary practices. The company announcement of a 5% average reduction across most Science Plan™ and Nature’s Best™ products and 6.1% average reduction on Prescription Diet™ products, was a pleasant surprise for many in the profession, particularly as some companies have subsequently responded to economic pressures by increasing the cost of their petfood brands.
“Hill’s continues to offer the highest quality petfoods, but in response to veterinarian and consumer appeals, at a lower price per kilogram to make our foods more affordable to pet owners. We also wanted to support our customers’ businesses,” said Hill’s UK Managing Director and veterinarian Blake Hawley.
While there is still an element of caution when it comes to consumer spending, Hill’s point out that reducing the price per kilogram of food has allowed more pet owners to feel confident about feeding their pets quality food. A survey carried out by the company in September 2009 identified that 83 per cent of the veterinary professionals polled believed that pet health would suffer if owners traded-down on pet food*.
According to Euromonitor**, the independent market analyst, Science Plan Healthy Development Puppy is experiencing faster volume sales than the rest of the market, outpacing the growth of popular grocery brands***, suggesting that Hill’s pricing strategy is certainly appealing to pet owners.
*Veterinary Matters – A Survey of Veterinary Attitudes to Pet Foods September 2009
**Euromonitor July 2010 & Hills Data May 2010
***Such as Pedigree, Winalot and Bakers brands.
More from
