One of the most important tasks of Pricing team is to identify the price that the market is willing to pay for the product or service. Pricology helps you critically evaluate the impact of external forces on your pricing power. The evaluation relies on hard data gathered from multiple sources.
This study identifies the features that are valued by the buyers and the amount of premium they are willing to pay for them.
It helps you in removing any anomalies in your price plans and in crafting a niche pricing strategy for each market segment.
Our recommendations factor in the anticipated behaviour of your customers and competitors. We always take a portfolio view in our projects, so that the recommendations do not negatively impact your other service lines or products.
The study ends with an action plan that includes both short term and long term operational initiatives to plug any gaps in your pricing strategy.
This action plan also quantifies the dollar benefit of these operational initiatives. This helps your to prioritise the improvement initiatives.