In the area of pricing, there are many tactical steps that give immediate advantage to companies.
However, the CEO’s also need a view on the long term pricing power of their products and services. Unfortunately, the pricing power erodes slowly and in the process leaves very little strategic manoeuvrability when it takes effect.
Price Intelligence Dashboard gives an industry level view of the changes in the pricing power. More or less all the competitor’s feel the head winds over a period of time. The companies who understand the trend in advance are able to take corrective actions before it becomes too late.
What is Price Intelligence Dashboard ? The Price Intelligence Dashboard captures the long term movement in the pricing power of a company based on the signals from the market.
How is it done? The Price Intelligence Dashboard relies heavily on the customer’s perception of the client’s product.
Is it innovative or commodity? Is customer’s need met by alternatives? Is it value for money? The customer perception data is refreshed periodically.
Apart from that, industry level signals such as sales, advertising, discounts and inventory levels are also captured. These data points are then normalised for long term demographic trends.
The analysis of the data gives us the movement in the customer’s pricing power.
How does it help the clients? The Price Intelligence Dashboard is an effective market feedback to the CEO and her marketing team to take corrective measures.
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