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 age, where customers have access to information about prices from around the world in seconds, implementing effective pricing strategies is becoming increasingly important for businesses. With this in [...]
A note from Iris Pricing Solutions President: Kirk Jackisch As we approach the end of 2022, it is clear that pricing leaders will need to navigate a very unpredictable market…perhaps more than ever before. With this uncertainty, leaders must employ resilient, proactive, and competitive pricing strategies. What We Saw Across Industries Almost all companies [...]
About the Device Our client, an established manufacturer of syringes, had developed a prototype digital injection device designed for use in clinical trials. This data-enabled injection device would automatically capture injection data without interfering with the injection device's usability. Specifically, the device would capture the start/stop time, completion and device ID. The target customers [...]
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 use your company's data to inform pricing and create new pricing opportunities, especially in the areas of e-commerce and competitive intelligence. Leveraging your data and analytics to make [...]
Price actions are not unique Companies are constantly testing the extent of their pricing power. Faced with rising costs for materials, transportation, and workers, companies are charging more for products from metal fasteners to Oreo cookies. The primary response to inflation is to become more efficient, but inflation is currently so high, that productivity [...]
Menu Price Increases Require a Strategic Approach "Between inflation and supply chain shortages, there are a plethora of issues affecting restaurants’ bottom lines. This has led many to adjust menu prices—according to a recent survey, 91% of operators have done so. How do you know when it’s time to raise prices?". Pricing Solutions Director [...]
By: Kirk Jackisch, President, Iris Pricing Solutions Over the last 18 months, B2B businesses have been faced with three major challenges. Labor shortages, procuring materials, and the inflation in their cost of goods, which for some specific products has hit numbers in the low to mid-double digits – increases that have been unprecedented in [...]
Background Our client with over $100 million in revenue annually, sells original and aftermarket parts for automotive enthusiasts. They cater to individuals with private garages and lifts, and of the components they sell, almost 60% are for Ford Mustang, Jeep, and Chevy vehicles. During the pandemic, many enthusiasts had more time to work on [...]
Establish a logical offer structure built on customers' key value drivers The client was a large doggy day care and dog grooming service provider planning a large expansion in the following year more than doubling the number of locations. The locations were operated by franchisees who had autonomy on their pricing and promotional strategy [...]
The client is a global online B2B retailer that supports its global pharmaceutical, bio-pharma, and food industry clients with its thousands of quality products. With thousands of different substances per industry being sold in 15 countries, the client had no way to track what products their competitor was selling, or what price they were [...]
