Tag: price analysis

Weekly Round-up: A Storyboard on the Benefits of Pricing Analytics Solutions

LONDON: Quantzig, a leading pricing analytics services provider, has announced the release of their new storyboard on pricing analytics solutions and how it can help companies boost their profit margins.  With the shrinking product life cycles, customers have become more demanding and sophisticated. One wrong pricing move can cost businesses huge sums in terms of revenues. Moreover, determining demand fluctuations, monitoring competitors pricing in real-time, and identifying pricing triggers are some of the critical challenges that businesses of today face while trying to sustain their profitability.

Strategic pricing analytics solutions can help companies to create optimized pricing, discounting, and promotion strategies. It can also help companies to realize sales opportunities and drive conversions.

By leveraging pricing analytics solutions, companies can minimize price gaps, optimize discounts and prices, and benchmark prices against those of their competitors to maximize both sales and profit margins.

Quantzig’s analytics solutions have helped more than 55 Fortune 500 companies to make data-driven decisions and boost revenues. Below, we have rounded up some of Quantzig’s recent success stories for this week and have also highlighted ways in which strategic pricing analytics solutions have helped businesses to become market leaders.

#1: Realizing profits of over US$ 3 million with pricing analytics: Accurate evaluation of the impact of pricing and promotions decisions is a daunting task. Don’t you agree?  One of Quantzig’s clients faced the same problem. They approached Quantzig to leverage its expertise in offering pricing analytics solutions to identify new ways of driving profits. Also, our pricing analytics solutions proved very helpful for the client in unveiling both short and long-term pricing improvement opportunities. Our strategic pricing analytics solutions helped them uncover factors that were driving sales.

Alcoholic Beverages Pricing Analytics – A Quantzig Case Study

#2: Why is snubbing pricing analytics a huge mistake?: Strategic pricing is one of the best ways in which industrial and consumer products companies can maximize their profits. So, ignoring strategic pricing analytics is not at all recommended for business leaders. Recent research shows that pricing analytics solutions and price management initiatives can boost a company’s margins by 2-7%, in a span of 12 months. Companies must, therefore, unlock the full potential of pricing analytics solutions to build a sustainable profit model.

5 Reasons Why Snubbing Pricing Analytics is a Grave Mistake

#3: Pricing analytics improved the sales performance by 7%: This is one of the most significant success stories of Quantzig, where the client managed to gain strategic insights into price optimization across the entire product portfolio. This improved the sales performance by 7%. Moreover, price analytics solutions also helped the company to simulate scenarios and estimate how price changes will impact overall profitability and SKUs.

How a Wine and Spirits Manufacturer Improved Their Sales Performance by More Than 7% with the Help of Pricing Analytics

#4: Why does your company need pricing analytics?: With the use of pricing analytics solutions, it becomes easy for any company to save millions of dollars since they help in forecasting and measuring deviations against actual results to keep everything systematic. Also, strategic pricing analytics solutions help companies to closely monitor the market and anticipate the effect of promotional campaigns or price changes. Quantzig’s price analysis solutions offer accurate insights on pricing and help in identifying pricing opportunities by realigning discounts and highlighting unprofitable accounts.

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#5: Leveraging predictive pricing models to boost profit margins: Do you really think developing predictive pricing models is a mystery? If yes, then you must go through our latest success story where Quantzig’s predictive pricing models boosted the client’s profit margins significantly. With predictive pricing models, it is easy gaining insights into the actual profitability of the products. Furthermore, pricing analytics solutions are very helpful when it comes to critical decision making by adjusting product portfolio with respect to state or local tax, price, supply chain, and production costs.

Quantzig’s Pricing Analytics Engagement Helps a Leading Frozen Food Manufacturer adopt a predictive pricing strategy and boost profit margin

#6: Pricing analytics improved sell-through by more than 10%: Sell-through shooting up by 10%? Don’t you think that is significant for any business? Pricing analytics solutions have made it possible for one of Quantzig’s client by providing them assistance in identifying the financial impact of existing markdown practices and mitigate the negative impact on margins. Additionally, pricing analytics solutions proved beneficial in capturing lost margins and reducing the tendency to impulsively offer steep markdowns.

Pharmaceutical Drugs Pricing Analytics – A Quantzig Success Study

#7: Strategic pricing analytics helped in understanding competitors’ pricing structure: Is your pricing strategy hindering growth? If yes, then you must be going wrong somewhere in analyzing your competitors’ pricing strategy as compared to yours as it is very crucial for any business to attain success. This is evident in Quantzig’s latest success story, where strategic pricing techniques helped the client to gain actionable insights into the pricing techniques of the competitors. Furthermore, pricing analytics solutions paved the way to better segment target customers, boost the efficiency of their networks, and drive profitability.

Pricing Analytics Engagement: How a Healthcare Retail Client Assessed the Impact of Price Differentials on The Overall Market Share

#8: Pricing analytics solutions aided in profiling potential customer segments: Quantzig’s pricing analytics solutions helped the client to increase their focus on realigning their marketing mix to improve their overall profitability. Additionally, the unique price analysis techniques helped in identifying various ways to robustly position products against the competitors and examine the level of profitability across niche target segments. Furthermore, the effective pricing analytics solutions helped in gaining insights into the internal and external factors affecting the profitability of the industry at a granular level.

Consumer Goods Company Leverages Pricing Analytics Solution to Profile Potential Customer Segments

#9: Pricing analytics assisted in devising a better pricing structure: Customer profiling might sound scary, but you need not fear if you have strategic pricing analytics solutions in place. A leading firm in the telecom industry was dealing with the same issue but experienced a great change in their pricing structure by leveraging Quantzig’s strategic pricing analytics solutions. These solutions helped them to segment their customers properly and identify price points to devise a better pricing structure. Additionally, it made forecasting customer churn much easier and they were able to channelize marketing efforts in a much better way to improve their ROI.

Pricing Analytics Helps a Leading Telecommunication Provider Devise a Better Pricing Structure for the Services

#10: Pricing analytics solution helped to build a strategic pricing framework: Are you wondering how price points can trick your customers into making a purchase? Pricing analytics solutions can help as it helped one of the Quantzig’s clients.  Pricing analytics can assist companies in gaining stock value, making discounts count, and increasing the overall business rating.  Also, pricing analytics solutions have the ability to understand fluctuations in commodity prices and shifts in competitors and developing an overarching strategic pricing framework. This framework can furthermore help in identifying the target customers and gaining actionable insights into the products that are aligned with the cultural identity of the customers.

Pricing Analytics Study Helps a Food and Beverage Company Build a Strategic Pricing Framework

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Price Point Optimization for a Leading Insurance Services Provider Helps Track Price Performance and Recommended Strategies to Improve Profits

As industries evolve and business model change, so do the risks involved in these industries. In the insurance industry, price connotes value and understanding how to effectively price their products and services helps insurance companies to understand their customers’ lifetime value. In order to meet the needs of the consumers, businesses across the globe are leveraging the use of solutions that focus on price point optimization and enhance customer satisfaction. With the help of an effective price optimization strategy, companies can understand how businesses in the insurance services space define their profitability and improve their retention levels. Moreover, leading insurance services providers can further retain the most profitable customers and improve their brand loyalty. In the insurance services space, price optimization helps businesses identify the customer segments with a higher probability of cancellation. Furthermore, price optimization can further help companies efficiently estimate the elasticity of demand and cost models to predict prices for the services offered.

To identify the impact of price changes on customer satisfaction levels, leading insurance providers are approaching companies like Quantzig. Quantzig’s pricing optimization strategy helps insurance companies to develop a better pricing strategy and spur profitability.
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The Business Challenge

A leading insurance services provider was facing certain predicaments effectively tailoring the pricing structure for specific customer segments. The client wanted to improve profits, profile competitor’s prices, and product availability. Moreover, with the help of our price optimization solution, the insurance services provider wanted to create a better business value proposition and guide the price optimization process. With the help of price optimization, the client wanted to seek ways to monitor results accurately and continuously improve pricing.

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Benefits of the Price Optimization Strategy

The price optimization solution offered by Quantzig helped the insurance services provider to determine initial pricing, promotional pricing, and discount pricing for their products and services. The engagement also aimed at introducing new services to bolster revenues and profit margins. To stay relevant in this competitive market, the client wanted to develop a great pricing strategy to curtail declining sales and falling profits. With the help of Quantzig’s price optimization strategy, the insurance services provider wanted to assess the competitor’s effect on the price elasticity of the services rendered.

Additional Benefits of the Solution Offered:

  • The insurance services provider experienced up to 10% improvements in profits and revenue lift ups
  • Gained a better return on investment
  • Constantly kept track of the price performance and recommended prices that will improve profits
  • Efficiently forecasted demand for the services rendered and developed promotional strategies

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Marketing Attribution

Pricing Analytics for A Renowned OTT Services Provider Helps Profile the Potential Customer Segments

With the relentless growth in technology, customers have become more digitally aware than ever before and are looking for seamless solutions to stay relevant in today’s technology-driven environment. Also, with the rising need for mobile and consumer electronic devices among the customers, organizations in the OTT services space are seeking robust technologies to promise personalized experiences to their customers. Furthermore, to provide convenience and further enhance customer value, renowned service providers in the OTT services space are augmenting the need for robust price analysis solutions. With the help of an effective price analysis solution, companies in the OTT services space can gain information about their customers and identify pricing opportunities to realign prices and increase margins. Moreover, service providers can closely monitor the market and anticipate fluctuations in prices and devise effective pricing strategies. Also, leading service providers can manage their pricing strategies and promotions and further manage profitability.

To stay ahead of the curve and sustain their performance, renowned service providers in the OTT services space are approaching companies like Quantzig. With years of expertise in offering a plethora of services, Quantzig’s price analysis solution helps service providers in telecom industry effectively estimate the impact of pricing on sales volume and understand the future impact of price fluctuations on market share. Also, OTT services providers can optimize the pricing of their services and maximize their return on investment.QZ_DEMO

The Business Challenge

A renowned OTT services provider with a considerable number of service offerings spread across the globe was facing certain predicaments estimating the price-change triggers and promotional pricing on their services. The OTT services client wanted to understand the current market space and position services effectively to stay ahead of their competition. Moreover, the OTT services firm wanted to revamp their service prices and analyze their profitability across various channels. With the help of this price analysis solution, the client wanted to seek ways to profile potential customer segments and estimate the impact of pricing on sales volume.

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Price Analysis Solution Benefits

With the help of pricing analysis, the OTT services client was able to re-discover their pricing patterns and offer services at lower costs compared to the competitors. The engagement also helped the client identify the average price elasticity of services and its impact on the sales and profit margins. Furthermore, the engagement helped the client identify the impact of price promotion on the brand equity. The OTT services provider was further able to respond effectively to pricing fluctuations and identify the effect of price gaps on the sales and brand position.

Price Analysis Solution Predictive Insights:

  • Effectively responded to the changes in the pricing levels
  • Understood the impact of price promotion on brand equity
  • Developed effective strategies to maximize brand growth
  • Increased sales by 20 percent and improved the overall profitability
  • Planned and enacted more profitable pricing strategies and made proactive pricing decisions

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Pricing Analytics Helps a Renowned Food Retail Client Understand the Overall Market Scenario

The customers of today are more informed and are shifting toward a cost-oriented environment to stay on par with the economic slowdown. Also, with innovations taking place in the food retail sector, the consumers are looking more for agility and convenience in their shopping experience. To understand the pricing patterns of food products and effectively meet the rising demands of the customers, businesses in the food retail space are advocating the need for price analysis solutions. In the retail industry, price analysis allows businesses to understand the current market conditions pertaining to the pricing patterns of food products. Moreover, price analysis also helps businesses optimize the pricing of products based on the profitability. Also, with the help of price analysis, customers can accurately forecast the price-change triggers to maximize profitability.

To understand the pricing model and meet expected returns on investments, leading businesses in the food retail space are approaching companies like Quantzig. Quantzig’s price analysis solution helps businesses assess the market performance and position their products accurately. Our price analysis solution also assists companies to understand customers’ buying decision and devise effective strategies to meet the pricing needs.QZ_DEMO

The Business Challenge

A renowned food retail client with a considerable number of retail units spread across the globe was facing certain predicaments profiling the competitors and understanding their pricing patterns. The client wanted to seek ways to predict the fluctuation in the prices and forecast the future growth prospects. Moreover, with the help of price analysis solution, the food retail client wanted to establish a value-based pricing structure to improve competitive pricing and the impact on the bottom line.

The primary objective of the engagement was to maximize the revenue across various brands and channels. Through the engagement, the client wanted to craft a dashboard to view the factors that drive results.

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Benefits of the Price Analysis Solution for Food Retail

With the help of the pricing analytics solution offered by Quantzig, the client was able to understand the impact of pricing models on the customers. Also, the engagement assisted the client in devising a one-size-fits-all approach to achieve higher returns from the marketing investment. The price analysis engagement also helped the client identify the average pricing and understand the impact of price changes on the profit margins. The price analysis solution further helped the client compare the price of each individual product with the current market price.

Price Analysis Solution Predictive Insights:

  • Understand the impact of price variations and its impact on the customers
  • Gain better visibility into the market pricing in terms of the profitability, product portfolios, and customers
  • Determine product pricing to maximize the revenue
  • Understand the price elasticity of demand and segment the market based on profit margins
  • Effectively monitor the market and anticipate the impact of price change on promotional campaigns

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Pricing Analytics Assists a Leading Food and Beverage Company to Revise their Product Pricing

In this highly fragmented market, companies in the food and beverage sectors are focusing on pricing to improve sales and boost productivity. The companies in the food and beverage sector are setting the pricing right to gain better returns on their marketing spend. To build strong pricing capabilities, leading organizations in the food and beverage space are advocating the need for price analysis solution. Furthermore, effectively utilizing price analysis can help food service businesses achieve a positive impact on the bottom line and maximize their returns from the marketing investments. Also, price analysis helps businesses understand the product’s position and the price elasticity of the products in the market. Price analysis also helps companies assess the importance of competitive pricing and the impact of sales and traffic on the product.

To effectively understand the effect of price promotion on marketing activity, leading businesses in the food and beverage space are approaching companies like Quantzig. Quantzig’s price analysis solution provides a holistic image into the pricing statistics based on the customer’s reaction to the prices. Through the solution offered by Quantzig, businesses can build effective strategies to offer discounts and improve the volume of sales.

The Business ChallengeQZ_DEMO

A renowned food and beverage company with a considerable number of manufacturing units spread across the globe was facing predicaments understanding their pricing portfolios and revising their product pricing to improve customer profitability. Furthermore, the client wanted to leverage effective price analysis solution to identify the pricing opportunities and optimize pricing strategies to improve business performance. The client wanted to identify the most profitable customers and target them in a cost-effective manner. The primary aim of the engagement was to improve profitability, margins, and market share in the food and beverage space.

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Price Analysis Solution Benefits

With the help of a robust pricing analytics solution, the client was able to identify the pricing opportunities in the market was further able to realign prices and increase profit margins. Moreover, the solution helped the client to closely monitor the market and anticipate the impact of price change on the products. Through the price analysis engagement, the food and beverage client was able to understand their trade-off customers and the impact of price changes on sales and profit.

Price Analysis Solution Predictive Insights:

  • Gauge price elasticity for a wide array of products and optimize pricing
  • Better position the products based on the demands of the customers
  • Create better efficiency in trade promotions and offer customized discounts
  • Build strong pricing capabilities and gain better returns on marketing investments

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CUSTOMER JOURNEY ANALYTICS

Pricing Analytics Helps a Financial Services Client Reduce Total Marketing Investment by 15%

Over the past few years, firms providing financial services have implemented various strategies to maximize profits. Effective price analysis plays a major role in determining the future of firms in the financial sector.

To optimize the ROI, adopting efficient price analysis strategies would be a good strategy for the providers of financial services. Advanced pricing analytics aimed at business outcomes and customers forms the core of financial services management. It also includes price leveraging and profitability management.

To efficiently achieve their targets regarding cutting down on market investments, companies providing financial services approach experts in price analysis. Price analysis plays the main role in designing a better data analytic methodology for the financial sector. Hence, it is better to implement intelligent market investment strategies.

The Business ChallengeQZ_DEMO

A renowned financial services provider failed to cut down their total market investments in spite of rigorous efforts. The client had implemented various cost optimization techniques, but it did not help them achieve their goal of cutting down on market investments. Cost optimization is a significant challenge for companies providing financial services to its clients. Thus, the client wanted to optimize their investments and devise appropriate measures to keep track of the same. The client also wanted to assess their investment patterns and identify loopholes in market investments. In addition, the client wanted to provide financial services that were customer-centric and devise appropriate strategies to obtain better market value.

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Price Analysis Solution Benefits for the Financial Services Sector:

Quantzig’s price analysis solutions helped the client achieve a 15% reduction in the overall market investment. Price analysis also helped them obtain a detailed insight into their investment patterns and ways to improve their ROI. It also assisted the client in gaining a better idea of the market shares over a period. The reduction in the financial services client’s market investment was the primary deciding factor in determining their future benefits as well.

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Price Analysis Predictive Insights:

  • Facilitates meaningful comparison by quantifying net benefits
  • Advanced scenario modeling helps to avoid costly mistakes
  • Effective business decisions on high priority issues
  • Helps to plan pricing changes and promotions
  • Provides a better clarity on goals
  • Builds business intelligence
  • Maximizes profitability by making efficient tradeoffs
  • Provides a detailed cost structure analysis
  • Assists in achieving long-term profitability

 

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Pricing Analytics Assists a Leading Consumer Banking Firm to Devise Effective Pricing Strategy

The current market scenario is marked by the rising cost pressures and changing customer expectations, where pricing plays a pivotal role in retaining the customer satisfaction and profitability. Moreover, leading consumer banking firms are shifting toward a value-based approach to pricing to deliver better transparency without compromising the efficiency of their services. To retain the customer satisfaction and reduce churn rates, renowned investment banking companies are relying on price analysis to better communicate their pricing decisions and deliver better value proposition of products and services. Moreover, with the altering consumer preferences to look for cost-effective and seamless solutions, price analysis assists businesses to boost their profitability and increase the customer satisfaction with the bank.

To effectively understand the market dynamics in terms of the supply and the demand for services, the client approached Quantzig’s price analysis experts. With years of expertise in offering a wide array of services, Quantzig’s price analysis solution helps leading businesses improve savings by efficiently understanding the consumer behavior. Also, leading consumer banking firms can adjust their pricing strategy to offer incentives for products, thereby improving the pricing decisions.

The Business ChallengeQZ_DEMO

A renowned consumer banking firm with a considerable number of offices spread across the globe was facing a predicament understanding the pricing for the services offered. The client wanted to benchmark the prices of their services with that of the competitors’ offerings and devise an effective pricing strategy to curtail additional costs. The client further wanted to understand the buying behaviors of the customers and provide better transparency in their banking process. Furthermore, the client wanted to understand the regulations and the market efficiency in offering services to the customers. In addition, the client wanted to leverage the use of price analysis to understand the client preferences to further prevent the market distortions and inefficiencies in consumer banking.

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Price Analysis Solution Benefits:

After gaining complete information into the price analysis solution, the client was able to improve profitability and market share through an effective pricing strategy. Also, the price analysis solution helped the client understand the customer buying decisions and effectively integrate the solutions to meet the pricing needs. Through a price optimization strategy, the client was able to robustly predict the market share and further manage customer profiles more effectively. Furthermore, the client was further able to establish a reliable value-based pricing structure.

Price Analysis Predictive Insights:

  • Better understand the customers and drive their loyalty
  • Effectively estimate the impact of pricing on sales volume
  • Robustly understand the impact of price differentials on market share
  • Understand the price elasticity in terms of the services offered and assess the impact of price changes on profit
  • Maximize profit margin by identifying the price discounts and targeting the right target audience

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