LONDON: Quantzig, a global analytics services provider, has recently completed their pricing analytics solution for a consumer goods client. The companies in the consumer goods space have an extensive product portfolio, including food and non-food categories to meet consumers’ demands. Over the past decade, the industry has started developing innovative products and services to meet the rising customer demands across the globe. Furthermore, firms in the consumer goods industry have rapidly expanded into the potential consumer markets across the world and aggressively built global scales across the value chain to make themselves profitable.
“Pricing analytics solutions help businesses to set pre-determined prices for the products and services based on market conditions and target margins. The solution also assists companies in gaining a clear understanding of the internal and external factors affecting the profitability of the industry at a granular level.” says an industry expert from Quantzig.
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The pricing analytics solution helped the consumer goods client to utilize predictive modeling to manage prices and promotions. With the help of the solution, the client was also able to compare the costs of the products and services with that of the competitors and use analytics to get the pricing right.
Additional Benefits of the Pricing Analytics Solution
- Increase focus on realigning their marketing mix to boost their overall profitability
- Identify ways to robustly position products against the competition and analyze profitability across niche target segments
- To know more, request a free proposal