Too many pricing decisions are made on an ad hoc basis. Considering the impact that price has on the bottom line, uninformed pricing decisions represent a big risk to organizations.
In response, Pricing Solutions designs, executes and interprets powerful pricing research that best suits the problem at hand. Our research provides our customers with insights into
- Price elasticity measurement
- Value determination of different offerings
- Price segmentation
- Customer loyalty and switching indices
- New product price optimization
- Consumer price awareness
- Trade channel pricing
- Competitive intelligence
- Product line pricing
Pricing research is distinct from other areas of marketing research, as it requires a multidisciplinary approach to be truly effective. In a typical pricing research study, the Pricing Solutions team will draw insight from market research, marketing, economics, finance, and psychology. It is this blend of skills, combined with passion for and dedication to pricing, that sets us apart.
Pricing Solutions perform extensive pricing work in both the B2C and B2B environments, using the tools, approaches, and methodologies that are appropriate for each situation. It is our belief that every pricing research problem, whether it is for a product or a service, is unique. Over the years, we have improved upon many traditional forms of pricing research by developing proprietary methods that make them more robust and accurate.
The payback from our work is typically 20:1; a client that invests $100,000 will typically realize annual returns of approximately $2,000,000. Our track record for developing highly accurate predictive models that highlight a firm’s product pricing opportunities and threats has been demonstrated over time in numerous industries.
For more information, click here to reach Greg Thomas.