Typically Companies are Only Managing 10% of Their Product Inventory

If you are not adjusting the prices of 90% of your product inventory, it is likely that you are not adjusting to consumer demands and your sales will suffer as result. 

Taking the assessment will give you the opportunity for price discovery across your entire product inventory, to find out what price elasticity means to your company and spot potential revenue uplift.

 

HOW DOES IT WORK?

The Pricing Health Assessment utilises a combination of your own data sets, third-party data sets, and the cutting-edge pricing software.

It has been developed by experts in the fields of pricing, quantitative financial analysis, science and maths (at Doctorate, Masters and Bachelor levels).

All with the aim to help your business use pricing to achieve sustainable business growth, acquire more customers and beat the competition. 

 

PART ONE - HOW IS MY PRICING STRATEGY CURRENTLY PERFORMING?

  • How often am I changing prices?
  • Is there a common pattern of pricing changes that are easy for my competitors to predict?
  • What % of my product portfolio is being changed each month?
  • Do I always change prices for the same products?
  • Do I typically make price increases or price decreases when I am changing prices?
  • Where have I reduced the price in the past and received no uplift in sales?
  • How often am I changing my low, mid and top priced products?
  • Do I currently optimise pricing for the right products?
Price Change (Count)
Price Change (Sum)

PART TWO - WHAT ARE MY COMPETITORS' PRICING STRATEGIES?

  • How reliant is my pricing strategy on competitor data?
  • How many competitors do I actually have?
  • Which competitors have the most impact on my inventory?
  • How competitive is my sector on price?
  • How does my pricing strategy compare to my competitors?
  • Do I set pricing for the market, or follow pricing from my competitors?
  • How often are my competitors changing prices?
  • What is the price difference from my competitors?
  • Am I more or less expensive on average than my competitors?
  • How much is the pricing difference from my competitors costing me?
  • Can I identify patterns in competitor pricing and predict their behaviour for my financial gain?
Price Difference From Competitors ()
Competitors' Price Impact Assessment

PART THREE - WHAT OPPORTUNITY DO I HAVE TO IMPROVE MY PRICING?

  • Can I gain an advantage by changing the frequency of my pricing changes?
  • What additional data sets can I use to identify my pricing sweet spot? 
  • What product pricing should I be worried about?
  • What is the opportunity to flex price at product or attribute level?
  • How price elastic are my products?
  • What opportunities do I have to increase price and maintain the current sales volume?
  • What pricing suggestions should I implement now?
  • How can I manage my pricing optimisation on an ongoing basis?
Inventory Management Review
Price Recommendations

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