USE CASES APPROACH
We don’t believe in the one size fits all approach in pricing. Our solution will provide you with a library of algorithms that optimise for different use cases. You can choose from: multi-product pricing, psychological pricing, cross selling, etc…
Dual Display Use case
Client has more than 1 price/product, client wants to optimize all price scenarios of every product distributed with multiple prices (2) Understand all the related effects of the price combination changes.
Challenges:
- Optimize all price scenarios of every product distributed with multiple prices
- Understand all the related/side effects of the price combination changes
Methodology:
We maximize the learning through an iterative approach:
- We expand the price variance combination significantly – only 1 price change upward & 1 downward actually drives us to different price combinations.
- We measure the overall top & bottom line effect for each portfolio built as well as the impact on the share of orders attached to our price#1 (e.g. member price).
Side effect assessment:
- We highlight the indirect impact of the dual price variation scenario – portfolio mix, basket value distribution per audience, and price competitiveness.
Achievements:
