Pricing and Promotion Optimizer Tool
Businesses need to assess the impact of pricing and promotion actions across different product lines and in highly competitive and volatile environments.
Our tools use historical prices, volume and promotional activities etc., to develop advanced simulation and forecasting tools that let your organization make informed and profitable pricing decisions.
Key Pricing Software Features
Pricing Optimization
- Optimize pricing against KPIs (revenue, margin) based on predictive and prescriptive algorithms
- Adjust optimization for sales seasonality and trends unrelated to pricing
- Adapt recommendations depending on competitive environment
Promotion Assessment
- Assess the impact of promotion actions across multiple product lines
- Predict optimal timing structure and depth
- Control for competitors’ promotions
Price Point Adjustment
- Manage key price thresholds across an entire portfolio of products or brands
- Apply appropriate price endings based on regional and cultural preferences
- Eliminate “inefficient” price points from price structure
Store Tiering Module
- Segment stores based on pricing power and determine optimal price tiers by geography
- Apply business rules to ensure pricing alignment based on store proximity
Simulation Module
- Run scenarios to predict the impact of a foreseen price change and/or a promotion
- Combine multiple products or promotions for complex scenario planning
- Compare and save scenarios
Pricing and Promotion Optimizer Case Studies
Building a Data & Analytics Driven Pricing Strategy
Industry: Restaurant & QSR
Developing a Pricing Strategy that Grows Profits and Guest Count
Industry: Restaurant & QSR
Linking Price and Promotion to Bottom-line Improvements
Industry: Alcohol Beverage
Pricing and Promotion Optimizer Articles
5 Ways Pricing Analytics Can Retain Customers and Increase Profits
By: Benjamin Garden, Director, Pricing Analytics, Iris Pricing Solutions It's no secret that pricing has a direct impact on profitability and customer satisfaction. In the digital [...]
Power of Pricing Analytics in Retail and E-Tail Decision Making
By: Ben Garden, Director of Analytics, Iris Pricing Solutions There are significant benefits to working with a team who has high-level pricing analytical skills and can [...]
How to Develop a Winning Pricing Structure in Retail
When it comes to retail pricing structure there’s a lot of variables to take into consideration. In this article, we discuss one retail pricing structure that helps to gain back control over prices and manage pricing effectively.
Make Pricing Your Ally: How to Put Value Back on the Menu
From QSR to family and casual dining, the “money” side of value equation – driven by pricing – is a challenge for restaurants. It doesn’t have to be that way. The purpose of this white paper is to demonstrate how having a value-based pricing strategy in place optimizes long-term profits for restaurants.
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