Revenue Growth Management Explained Template

This revenue growth management explained template has 3 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our revenue growth management explained template:

REVENUE GROWTH MANAGEMENT EXPLAINED Revenue growth management (RGM) is a practice that has been used for decades because it has a historically utilized statistical model. It is a disciplined application of analytics that helps predict consumers' behaviour at micro-market levels. Revenue growth management also helps to optimize the availability of products and price for revenue growth maximization. Revenue growth management also utilizes price elasticities, often based on demand and supply, for revenue maximization. It often works closely with finance, sales and operations, and brand management to implement and develop strategies. Revenue growth management also supports fare structures and consumer analysis. Sectors Powering Revenue Growth Management Framework Lately, businesses have been under pressure to have a constant growth rate. Factors behind the pressure include the emergence of the internet era and evolved consumer behaviour. These factors depict that there needs to be an improvement in the approach to winning a customer. Consumer packaged goods (CPG) companies must revise and improve their traditional operating model. Revenue growth management is the new model for creating value in the consumer packaged goods industry. The following are the key five sectors that help to power RGM: 1. Pricing A brand's insight is often controlled entirely by the strategy of the prices alone. Consumers often make their primary decisions depending on the price of a service or product being provided to them. Deciding the price of a product often involves theorizing about the financial sensitivity of the potential competitor and target pool. 2. Brand Positioning Brand positioning is one of the major factors that help to determine the direction of revenue growth. It is the process that helps to differentiate a brand from other competitors in the mind of the target consumers. Ineffective brand positioning tends to confuse consumers when deciding whether to buy from a particular brand or its competitors. 3. Optimization Mix Futuristic businesses need to prioritize marketing and advertising when optimizing their marketing mix. The optimization mix aims to maximize their marketing ROI to provide customer experience efficiently. It also enables marketers to identify the best areas of promotional investments without causing any harm to their current marketing budget. 4. Promotion Management Several data streams have been originating across various consumer touch points due to the arrival of data streams. These consumer touch points are the online marketplace, brand websites, and customer care. The winning approach of promotion optimization is targeting consumers with propositions. Promotion management is a framework that revolves around optimizing and managing promotions using analytically sophisticated data. 5. Trade Spending Trade spending is vital for consumer-packaged goods manufacturers