Setting Prices Strategically with DemandTec
Use consumer, demand, and market intelligence to proactively define and execute a pricing strategy in the marketplace as opposed to reacting to the competition.
Best practice practitioners take additional steps to be strategic and consumer-centric, defining their strategy across the complete product lifecycle that includes base prices, promotions, and markdowns in order to achieve volume, sales, profitability, and price image goals.
Advanced consumer-centric pricing incorporates consumer insights such as cross-shopping behavior, segment-specific targeting, and a quantified understanding of competitive impacts and impact on market share.
Define and optimize consumer-centric pricing strategies based on consumer, demand, and market insights
- Leverage superior insights into price elasticity, consumer demand inside and outside your stores, and competitor actions
- Determine the right balance of EDLP and Hi-Lo pricing
- Validate and refine price zones, image items, and category roles
- Define strategies and optimize prices across the complete product lifecycle - initial, everyday, promoted, and markdown pricing - given local market demand and competition
For more information about how DemandTec can help you set prices strategically, please contact us via sales@demandtec.com or by phone at 650-226-4600 |
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sales@demandtec.com
650-226-4600
Resources
Learn more about setting prices strategically from our series of informative whitepapers.
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