Pricing Optimizer

Analyze the profitability of specific price points.

The pricing process remains one of the most challenging and complex functions in any organization, with organizations employing strategies ranging from competitor-driven pricing to some form of price optimization. It’s never too late to improve, as even a nearly optimal price can quickly result in margin erosion and sales losses.

The pricing environment has only gotten more complex today in an increasingly connected and mobile environment. Customers are demanding more, are lackluster and quickly changing consumer patterns and competition are only aggravating an already complex market.

Here are the major challenges:

01

Customer value perception

A customer's perception of the price is as important as the actual price. Companies should communicate well to customers how the prices of their products and services compare with those of those of their competitors, even if customers don't notice price changes separately.

02

Complex buying environment

Today's market demands many considerations when creating a price strategy. Pricing is one of the many factors which affect customers when making a purchase decision.

03

Category dynamics

A diverse product offering creates Complementary, substitutability, and cannibalization effects. Having to address the price levels and sizes of different brands and packaging adds another layer of complexity

04

Revenue Leaks

Margin erosion is one of the major challenges many organizations face without a central price optimization system

05

Excessive promotions and discount

A poorly executed promotion can have a long-term and short-term impact on the margin. A good promotional strategy is critical to an effective pricing strategy

06

Eye on your competition

An organization's pricing strategy should take into account competition pricing strategies. In addition to fulfilling the organization's goals, pricing solutions should follow industry trends.

The Convergytics Approach to Pricing Analytics

We work with you to understand your brand strength, competitor landscape and most importantly your customer preferences so we can narrow this down to a science that will help you find the right price for your product—a price that maximizes value for customers and profit for you.

Price Optimization

Unified price optimization for enterprise price management to provide optimal prices at desired levels of granularity & objectives

Promotion Optimization

Boost unit sales with promotions, markdowns, bundling, and other marketing tactics that boost margins without compromising goals

Price Analysis

Discover essential and actionable insights to better understand pricing strategies, promotions, and margin.

Demand Forecasting

Forecast demand based on conjoint models, which are able to capture the complexities of customer decisions while accurately forecasting customer demand

Dynamic Pricing

Enhance the margins and unit sales of selected products using dynamic pricing based on customer personas

Price Crawling

We deliver accurate competitor pricing crawling backed by a 90% match rate and easy to maintain cloud platform with database and reporting

The Convergytics Advantage

One solution, many goals

Ensure that a consistent pricing strategy is implemented from store-sKUs to the level of National Category for all pricing decisions

Over 90% accuracy in demand forecasting

Develop a strong foundation based on accurate demand forecasts that express demand through not only pricing, but also all of the enterprise and market factors

An intuitive price laddering system (in and out of lane)

Reduce cannibalization with a comprehensive analysis of cross-price elasticity and laddering across categories and SKUs

Stop revenue leakage and margin erosion

Promotion optimization enables organizations to enhance customer perceptions of value and price by implementing a cohesive and consistent pricing strategy

Price simulation and What-If Scenario Planning

Determine the optimal pricing strategy by testing multiple strategies at your desired level of granularity

Competitive advantage

Real-time access to competitive prices to guarantee your pricing is optimized according to competitor pricing strategies.

Interested in Learning More?

Case Study

casestudy-optimize assortment

Case Study Optimize assortment plans with systematic testing of localized …

casestudy-marketing-spend

Case Study Marketing spend optimization and planning to drive brand …

casestudy-ml-fraud

Case Study Machine learning solution for real time fraud detection …

casestudy-targeting-customers

Case Study Use machine learning to enable personalized targeting for …

casestudy-centralized-pricing-real-time-discount

Case Study Run centralized pricing strategies with real time offer …

blake-wisz-Xn5FbEM9564-unsplash

Case Study Augmented intelligence to enable dynamic customer journey orchestration …