We strive to help customers improve their pricing and in turn make more profit through better pricing. Here, we explain the different parts of the process with respect to retailers through a series of info-graphics.
Journey to Pricing Excellence is where the journey starts. How do you get from where you are now to achieving a culture of pricing excellence? In this document we explain at a high level how we guide you along that path.
Next, what are the specific questions that better pricing can help you answer and how does that affect your business? We align this to our pricing excellence path starting with the question a strong pricing execution foundation can solve.
- What if 1% of your prices were wrong? This collateral describes the problems associated with pricing errors and the process we go through to understand the impact of pricing errors.
Next, we look at the different pricing activities merchandisers and marketers manage during a product life cycle. First, a product is introduced with a price, next the price is managed day to day, promotions are used to elevate awareness of the products, and finally at the end of life a clearance price is used to sell through inventory.
- Could the right price increase your revenue 3%? This info-graphic explores how better day to day pricing can lead to improved revenue.
- How do you improve the odds for a successful promo? The next in the series describes how better promotion management can increase your margin 5% to 20%.
- Can selective clearance pricing improve margins 10%? The final chapter in the series focuses on markdown or clearance pricing where you have finite inventory and want to maximize your goals when selling through.
These documents scratch the surface on how better pricing can help your business. We discuss many of these topics in more detail and how to implement pricing projects in our blog. Visit it here and share your thoughts.