Price Management and Optimisation

Profimetrics Price Optimiser is a very powerful price management system. Price says more about your brand than any other factor.

Every brand’s image can be easily re-enforced or destroyed by the pricing strategy the business follows. Pricing is key to brand perception. Profimetrics helps you in a number of areas.

Initial Pricing

You can set up a series of rules that allow you to ensure you do not make mistakes in initial pricing. If you are a multi-facia retail business it ensures that you retain maintain price integrity across facias. Within a business it allows you to ensure you do not violate price relationships, price architecture and price rounding rules and policies.

Maintaining Price Architectures

Many retailers like to maintain formal pricing architectures that reflect their range architectures. So for example good-better-best rules.

By holding price relationships, you can ensure that you maintain price architectures as new products are introduced.

Lastly, it also ensures that promotions do not violate price architecture rules.

Competitive Price Management

Profimetrics is very good with dealing with competitive pricing feeds. It can take external price feeds and make price change recommendations. This is very powerful in industries where price competition is rife and prices are volatile.

Differential Pricing

If you want to offer or do differential pricing, you really need Profimetrics. It allows to maintain price differentials for a given product in different price zones. It then ensures that those differentials are maintain during the life of the product.

Price Elasticity

Profimetrics help you identify and experiment and report on Price elasticity in a controlled manner. In a world with price volatility or with high levels of Promotions this is a vital asset.

Raising Prices

There are often more opportunities for raising prices, than retailers either realise or care to admit. However in not raising prices when it is appropriate, you are again giving away margin. Profimetrics allows you to spot such opportunities.

Benefits

Retailers lose customers, impact brand perception or lose margins through poor pricing strategies and poor pricing execution. Profimetrics helps you retain brand integrity and margin protection without destroying price perception.