The identification of pricing opportunities
We start by completing interviews and collecting available product and pricing data. This allows us to understand the context and current state of your pricing strategy.
By applying our own pricing knowledge, and proprietary data modelling, we can assess the suitability and performance of your current pricing strategy, and make recommendations on potential changes for increased revenue and/or profitability.
A typical audit takes up to to 10 days, and identifies both short and long term opportunities for pricing improvements.
Price Consultancy - Value
Capture value through price changes
A detailed analysis of the prices of your won orders against other data available, and an assessment of structural pricing alternatives.
A review of your current price structure, dimensions & levels, and recommendations for any structural improvements. A price elasticity testing plan is also delivered to ensure the impact of changes can be monitored.
We deliver typical margin increases of 2-5%, and a testing plan enables the start of repeatable analysis.
Price Consultancy - Data Analytics
Apply measured elasticity And Modelling
The outputs of price testing are applied to enable more refined price optimisation, alongside further modeling of data and measured elasticity.
Refined recommendations on the optimal price setting algorithm by product and other dimensions, and the associated quantification of price change impacts.
Further margin increases, and a more targeted pricing solution set up for ongoing use.