Defining the Best Price
Price is the one component of the marketing mix that has a direct and straight path to the bottom line, so price optimization is key. Proven analytics operationalizes pricing by
- Identifying the optimum price range for your products today
- Managing pricing policy for the long term health of your business
How do you find and implement the best price? What you need is someone to
- Guide your team through the entire process, including establishing an implementation path
- Build a price optimization tool that can be used for your established and proposed products
- Provide and manage the external market research most suitable to your business environment
- Help you install the internal capability and other pricing tools to optimize price within your product and service portfolio
Price Optimization and You
What are additional benefits of price optimization?
- The market facts determine value-based pricing models.
- The models can be used to conduct “what if” analyses.
- The approach can be expanded to propose pricing policies for multiple products and services in the same family at the same time.
- It’s consistent with Six Sigma methodologies for Six Sigma practitioners.