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In a sign of the times, New England Consulting Group, based in Westport, Conn., recently created a dedicated Recession Price/Profit Management Consulting Practice.
The new practice is headed by c.e.o. Gary Stibel, and will be supported by a core team consisting of Bob Lepre, Dave Stone, Tom Hayes, John Ruf, Fred Huser, Gaurav Kapoor, and Ed Rhoads in the company's headquarters office.
Each member of the team has had extensive experience with recession pricing and profit, according to New England Consulting Group. Their backgrounds include companies like Procter & Gamble, PepsiCo, Johnson & Johnson, Kraft, and Novartis.
Stone will focus on consumer price elasticity; Ruf, best and worst practices; Hayes, manufacturer and retailer communications; Kapoor, brand equity and integrity; and Rhoads, cross-sectional and time series analytics.
Areas of focus include absolute price (what you pay for what you get), inline relative price (what it costs today vs. what it cost yesterday), relative competitive price (your price vs. that of your competition, today and historically), global price (360 degrees relative to past history and competitive pricing, in the real world, from gasoline to fertilizer), cross-sectional analysis (how your situation compares with that of other companies, in other categories, in other countries, etc.), and time series analysis (importantly excluding 2001 and 2002 which were very atypical, but focusing, instead, on 1991/92, 1982/83 and 1971/74).