- Dynamic Pricing & Optimization
- Promotional Pricing
- Profitability Analysis
If you want to know how to increase sales based on scientific analysis of your data, you are in the right place. Our data scientists can carry out price optimization scenarios, develop elasticity models and even cross-product forecasting.
You get the ability to create price optimization models for your products and services based on current market data.
Market Based Pricing – Ensure better customer reach for your company by optimizing the prices of your products and services.
Price Elasticity and Sensitivity – Analyze how pricing is impacting your sales volumes.
Cross Price Elasticity – Data analysis can also reveal how price differentials are affecting your market share.
Dynamic and Competitive Pricing – Get actionable intelligence based on price-change triggers and analyze competitive pricing by category, brand and shipping charges. Contract pricing modeling also increases the chances of retaining existing contracts.
Now you can create promotions with attractive pricing models based on data science instead of relying on human biases as to which pricing model works best. This is because we can create algorithms for you that use data analytics and market strategies. This includes doing the following things:
Quantify Promotional Strategies – Develop pricing models that offer good value to your customers when developing your promotional strategies.
Measure Net Impact – Carry out simulations of your promotional activities to know how effective they are going to be in the market.
Implement Accurate Forecasting Methods – Conduct on-demand modeling to predict the impact of your promotional events and offers.
Discount Pricing – When you work with us, you can create discount pricing methods based on the appropriate timing and frequency of your events and other marketing plans in motion.
Quantifying Affinity and Product Bundling – By identifying which products have a close affinity to each other in terms of consumer purchasing patterns, you can avoid unnecessary discounts and markdowns. With data driven product bundling, you get more cross-selling and up-selling opportunities.
Before you start a new product line or shake up your existing services, it is important to carry out a data driven profitability analysis. Our data scientists can help you do that and remove the assumptions and other human biases in decision making. With us, you can do:
- A cost volume profit analysis that looks into your cost factors across the organization. This helps you uncover new opportunities.
- Indirect costs can be reduced with data analytics.
Mobile Sales Enablement: Enable Sales Team with the Right Tools
Mobile has changed the way companies do business. You need to provide exactly what the buyer needs for higher sales numbers. In the current competitive environment, your sales reps need the advanced tool that will help them better engage clients, improve productivity, and sell smarter.Download White Paper
Value Based Pricing
The value of your products is determined not just by the market, but by the customers who pay for it for a certain perceived value. If you can measure this factor, then you can create an appropriate pricing model and get a higher ROI. This is now possible due to data science, where you can use methodologies such as value mapping, cross price elasticity, discrete choice and value-in-use analysis.
You can measure how your products and services are perceived compared to your competitor’s offerings. You can even predict how the market will react if you change your pricing model and how will your customers react when they have to choose between you and your competitor.