How to Optimize Prices in 2024

2024-02-05T11:53:26-05:00Categories: Crisis Management, Inflation Pricing, Pricing Management, Pricing Optimization, Pricing Research, Pricing Strategy, Pricing Tools, Pricing Value, Recession Pricing, Revenue Management, Services|Tags: , , , , , |

A note from Iris Pricing Solutions President: Kirk Jackisch 3 Ways Businesses Can Optimize Prices in 2024 As 2024 progresses amidst global uncertainty, businesses face significant challenges. Recent years have witnessed escalating costs and diminishing profit margins, prompting frequent price increases, often occurring multiple times annually. Despite this, businesses have increasingly embraced robust price [...]

Pricing Strategies at a Glance: What are they and which is best for you?

2023-09-08T18:13:22-04:00Categories: Pricing Analytics, Pricing Management, Pricing Optimization, Pricing Research, Pricing Strategy, Pricing Tools, Revenue Management|

By: Savannah Dixon, Pricing Analyst, Iris Pricing Solutions In the constantly changing world of business, discovering the ideal pricing strategy is critical to unlocking untapped revenue potential. It's a puzzle that can make or break your success, and the choices can be daunting. In this article, we explore four fundamental strategies: Cost-Plus Pricing, Value-Based [...]

Pricing and Artificial Intelligence: A Match Made in Heaven?

2023-03-31T10:39:47-04:00Categories: Pricing Analytics, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools|

By: Benjamin Garden, Director of Pricing Analytics In today's hyper-competitive marketplace, businesses are continually seeking new ways to increase revenue and maintain a competitive edge. One approach that has emerged as a promising solution is Price Optimization using AI algorithms. With the ability to analyze vast amounts of data in real time, AI algorithms [...]

5 Ways Pricing Analytics Can Retain Customers and Increase Profits

2023-01-30T16:12:52-05:00Categories: Pricing Analytics, Pricing Optimization, Pricing Research, Pricing Strategy, Pricing Tools|Tags: , , , , , , , , |

By: Benjamin Garden, Director, Pricing Analytics, Iris Pricing Solutions It's no secret that pricing has a direct impact on profitability and customer satisfaction. In the digital age, where customers have access to information about prices from around the world in seconds, implementing effective pricing strategies is becoming increasingly important for businesses. With this in [...]

The Current State of Pricing – 2023 Recession

2024-01-10T14:43:21-05:00Categories: Crisis Management, Inflation Pricing, Pricing Management, Pricing Optimization, Pricing Research, Pricing Strategy, Pricing Tools, Pricing Value, Recession Pricing, Revenue Management, Services|Tags: , , , , , |

A note from Iris Pricing Solutions President: Kirk Jackisch As we approach the end of 2022, it is clear that pricing leaders will need to navigate a very unpredictable market…perhaps more than ever before. With this uncertainty, leaders must employ resilient, proactive, and competitive pricing strategies. What We Saw Across Industries Almost all companies [...]

Power of Pricing Analytics in Retail and E-Tail Decision Making

2022-11-29T13:04:55-05:00Categories: Differentiation Strategies, ecommerce, Our Services, Pricing Analytics, Pricing Changes, Pricing in Retail, Pricing Management, Pricing Strategy, Pricing Tools, Pricing Value, Services|Tags: , , , , , , , , , |

By: Ben Garden, Director of Analytics, Iris Pricing Solutions There are significant benefits to working with a team who has high-level pricing analytical skills and can use your company's data to inform pricing and create new pricing opportunities, especially in the areas of e-commerce and competitive intelligence. Leveraging your data and analytics to make [...]

Getting Everyone Onboard for Price Increases

2024-01-10T14:43:56-05:00Categories: ecommerce, Inflation Pricing, Pricing Changes, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, Pricing Value, Recession Pricing, Revenue Management|

Price actions are not unique Companies are constantly testing the extent of their pricing power. Faced with rising costs for materials, transportation, and workers, companies are charging more for products from metal fasteners to Oreo cookies. The primary response to inflation is to become more efficient, but inflation is currently so high, that productivity [...]

Pricing Solutions x (NRA) National Restaurant Association

2022-10-03T11:47:32-04:00Categories: Pricing Analytics, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, restaurant pricing|

Menu Price Increases Require a Strategic Approach "Between inflation and supply chain shortages, there are a plethora of issues affecting restaurants’ bottom lines. This has led many to adjust menu prices—according to a recent survey, 91% of operators have done so. How do you know when it’s time to raise prices?". Pricing Solutions Director [...]

Menu Prices Must Increase This Spring, But By How Much?

2022-04-08T13:25:18-04:00Categories: Pricing Analytics, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, Pricing Value, restaurant pricing|

By Craig Singleton, Director of Restaurant Strategy, Iris Pricing Solutions Spring is here and it's the ideal time to re-evaluate menus and reconsider pricing. Producing new menu items or switching to a seasonal menu necessitates a consideration of current pricing. Many large, multi-unit restaurant brands procrastinate on pricing out of fear that an increase [...]

Pricing and Digitization: Parallel Journeys to Success and Survival

2021-11-18T13:44:20-05:00Categories: Pricing Analytics, Pricing and Selling, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, Pricing Value|

Iris Pricing Solutions has launched a special report entitled ‘Pricing and Digitization: Parallel Journeys to Success and Survival’, demonstrating how pricing, marketing, and sales can benefit from better data capture and use that data to increase customer segmentation, improve value propositions, and better understand consumer behavior. Companies in the B2B sector are increasingly employing [...]

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