- analyzing the profitability of specific price points
- optimizing your pricing strategy
Predicting customer behavior and customer trends are integral parts of a pricing analytics platform. It allows you to add dimension to your data by giving additional context with demographic data, geographic data, or another dataset. This allows you to use this data with other reports to generate scenarios.
How Do You Conduct Pricing Analysis?
analyze market trends
understand the pricing strategies of your competitors
optimize your pricing models and strategies
identify growth opportunities to improve profitability
The 4 Different Pricing Strategies
Fixed price strategy: The seller sets an initial price and does not change it.
Skimming strategy: The seller sets a low initial selling price that increases gradually as the sale continues. This is also known as "price skimping”.
Penetration pricing strategy: The seller sets a high initial selling price and gradually drops it to a break-even point over time.
Value-based pricing: Value-based pricing refers to setting a value on the product or service being provided. In this case, the value is set by a customer or internal criteria and not determined by competition or market forces.
How Does Pricing Analytics Help Your Business?
- maintain pricing uniformity within your organization
- reduce revenue leakage
- offer strategic discounts and offers to customers without damaging margins
- maintain a competitive market advantage with pricing
How Do Pricing Analytics Platforms Help Your Customers?
What Makes Mactores Different?
Data Analytics Platforms and Pricing Automation That Helps Your People
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