Pricing Art & Science
Pricing seems like the simplest of the actions that impact Revenue and Margin. The reality is that nothing could be farther away from truth. For starters everyone has an opinion about pricing and their personal experiences become facts that you have to prove or disprove continuously. Then there are weird ways the impact of Pricing works and the pain is known only to those who know the area well.
Have you found yourself wondering why your math models and actuals are not only different but impossible to reconcile! Or why markdown price impact measurement cannot be done the same way as regular price impact measurement. Or why pricing actions that make complete mathematical sense are so controversial to implement!
We at Profects know your challenges because we have lived them just like you. That is the reason we do not bring to you the math models first. We bring a patient ear to understand your context and objectives. When the time comes for math models, we promise you transparency and not a black box. We know Pricing drives value, but we also know “how to make” Pricing drive value..
Why Profectus
Because we know Pricing like you do
If pricing were so easy, we already would have AI replace humans. But you and us, we all are still here and thriving. The reason – we know AI and HI (human intelligence) work together not against each other. We know Pricing they way you do and that is why we offer
- Glass box approach
- Connect the process and $ together
- Bring real life experience
- Expertise in math and data
- Technology that works for you
We have the best in class Competitive Price Intelligence gathering services. Our services are scalable – up and down – to meet your needs. We provision our state of the art, cloud based and secure Data Insights Platform for you to access and analyze the price intelligence data. You can chose from real time price scraping to scheduled price intelligence gathering – because we know not all categories are the same. We do all the hard work so that you can focus on value creation.
Price elasticity is simultaneously the most used and the most misunderstood word in the history of pricing. We know this, because our frustration with it in real life situations made us launch Profectus.
For us price optimization means a holistic view. Profectus teams enabled by the Data Insights Platform provide you not only with a math answer, but an answer that integrates pricing recommendations with your customer response, your vendors response, your competition’s response and tie it all together with your internal financial objectives. In summary, we help you tell the story behind every pricing recommendation you make.
Overwhelming odds are that you already have a Promotions and Markdown capability at your company. Since you are still choosing to read this (Thank You!), chances are you believe there are gaps in your capability.
That is where our Data Insights Platform (DIP) is such a great asset for you. Combined with our expertise in Pricing our offering is designed to take your promotions and markdown capabilities to the next level. For promotions, our analytics can not only help you measure the impact, but help you personalize by connecting your transaction and customer data effectively. For markdowns, where we excel is not only in helping you identify the markdown candidates, but we also can bring the power of DIP to optimize, run scenarios and measure the “true” impact vs. the top line financial impact.
Unlike top of the line strategy firms, our output is not limited to power point slides. Our approach is to understand both your objectives and your context. We believe there is no parallel to our capabilities supported by our Data Insights Platform, when it comes to generating insights at scale and speed. We are proud of our strategy work – whether it starts with Portfolio Role & Intent for Products Understanding Customers, Understanding Competition or Understanding Cross Channel Dynamics, we know how to bring it all together for you. We work “With” you and believe in co-development, because we know, once our work is done, you are the one who will own it.