Elaine is a Senior Strategy Consultant in the Melbourne office at The Lab. Elaine has over 8 years consulting experience in Australia and throughout Europe, working for a number of leading global, regional, and Australian businesses and brands.
Prior to joining The Lab, Elaine worked for Kantar Vermeer as a marketing consultant, as well as Akzonobel & British Telecom in various brand and marketing roles.
Elaine holds a Bachelor of International Management, with honours from Bath University and a Chartered Institute of Marketing Postgraduate diploma.
Ensuring equitability and fairness in strategic pricing decisions
Co-Presenters-Ashima Mehta & Emma Tommasini
For many years, AustralianSuper’s admin fee for accumulation members was $1.50 per week. Increasing costs however meant that that Fund had to review their pricing and increase admin fees in 2019. Foremost in AustralianSuper’s considerations for any such pricing increase was the important matter of the fairness and equitability of any such price increases on members, particularly given the diversity of the member base. AustralianSuper’sfirm commitment to being a members first Fund meant that finding a fair and equitable solution for all members was critically important. On top of this, it was important to the Fund that any proposed admin price increase did not have negative implications for the brand’s ability to attract new members, nor the propensity of the business communities’ to select AustralianSuper as a default fund for its employees. Then there was the matter of the need to communicate pricing to members in a simple and easy-to-understand manner. The criticality of these issues meant this project had Board-level visibility, and was described by AustralianSuper as one of the largest and most business critical member-related projects undertaken in many years. For this reason, extremely exhaustive and robust research (involving both quantitative and qualitative methods) was undertaken to inform the business decision as to how to proceed in the most fair and equitable fashion. This paper is about how AustralianSuper worked with Nature and The Lab, the method employed, and the lessons learned in how to conduct business critical strategic research in a tight timeframe.