Question-and-Answer Session
Operator
Thank you sir. The question-and-answer session will be conducted electronically. (Operator Instructions). We'll take our first question from Lauren Torres with HSBC.
Lauren Torres - HSBC
Good morning.
Alexander Ware
Good morning.
Robert Pohlad
Good morning, Lauren.
Lauren Torres - HSBC
I have a question on the pricing front, I know you mentioned that you already passed through pricing good acceptance, and I was just curious though as the year progresses and I know its hard to tell how things will progress, but from an affordability issue how are you thinking about consumers looking at the price increases you are taking what the potential push back could be, would there be roll back in prices, just curious as the consumer now is obviously well all aware have been pulling back on spend, I was just wondering if from a pricing perspective there was concern?
Kenneth Keiser
Lauren this is Ken. So clearly we -- as we just mentioned we have pricing kind of guided in the U.S. in a mid single-digit range and as you suggested that pricing is in the marketplace where we are consistent with what we've seen in the marketplace. Clearly as this pricing particular not only in 09' but over the past couple of year has put us in the top end of our consumer value ranges and obviously that's the reason why we are so interested in all the price pack.
Architectural price pack value or pricing that are all to in a marketplace; as we see the year unfolding, as we exit Q4, where our pricing was really at the very high end, where we think it will be in 2009, I would suspect as the year goes on we'll see a little bit more emphasis on the holidays and promotional value types of opportunities to help kind of create those big stock applications. So, as we sit here today I think we're comfortable with the pricing that's in the marketplace, but as you know these underlying commodity costs, our pressures are not unique to beverages, there we're seeing as across the broader CPG a category.
Lauren Torres - HSBC
And you mentioned that you took it both in the United States and in Europe these increases already?
Kenneth Keiser
That's correct.
Lauren Torres - HSBC
Okay. And Alex for you, I know you talked a little bit about costs here. I think I just missed your comments with respect to your exposure for this year, can you just repeat that please?
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