Pricing is a make or break requirement for the modern retailer. Price management must properly represent the brand positioning in every store, meeting specific shopper basket expectations and positioning with key competitors; it must be balanced with promotional, marketing and loyalty programs, while achieving category sales and profit performance goals.
Pricing Life Cycle Optimization brings together all the elements of price management necessary in today's markets to implement Hi-Low, EDLP or a mix of those strategies through line item, brand, supplier, competitor and category rules and differentials mixed with performance targets.
Given their requirements some retailers will only use the rules engine in a basic way , for others it will mean a full implementation of price and promotion Optimization, but irrespective of maturity all retailers need pricing tools to maintain pricing strategies on a day to day basis to take account of cost and competitive changes.
Enables you to optimize the overall profit, margin or contribution of a portfolio of products whilst maintaining price position.
The use of a structured rule s to create and maintain price positioning and differentials through which the rules engine implements product and category strategies and constraints.
Providing visibility and tools to manage the day to day pricing environment, inspect costs, margins, competitor prices, future retail prices etc. and make adjustments as appropriate.
