Price setting
Price setting is a sophisticated science involving plotting of accurate price elasticity curve, computation of cross-elasticity effects and definition of standardised discounting rules.
Price setting generally requires five steps:
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Step 1: Evaluation of data/information availability and bridging of data gaps
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Step 2: Definition of segments/groups and overall granularity level at which price needs to be set
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Step 3: Application of analytics to compute price elasticity or price acceptance
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Step 4: Optimisation of price to maximise sales or contribution margin
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Step 5: Definition of discounting rules and guardrails for sales team
To help businesses optimise price, Pricing Stratz possesses the in-depth know-how to:
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Bridge any data/information gaps
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Apply basic and advanced analytics to optimise price
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Test the new price(s) with real customers and/or prospects
Case Studies
Contact Information
We are based in Dubai with clients in the US, Canada, UK and France