As consumers, standing in an aisle and faced with an abundance of choices between similar, yet competing products, price often dictates which product we choose. If it was your product left on the shelf, as data analysts we can help your business find out why, and then determine how to level this pricing playing field with our CBIG Price™ optimization services.
We understand how difficult it is for businesses to determine how much the market will bear when determining pricing structures for goods and services in relation to customer demand, competitive pricing, and profit margins. In a demanding global marketplace where more traditional, dartboard approaches for creating pricing structures no longer suffice, CBIG Price™ optimization is our next-generation service designed to help firms develop and maintain a more precise and competitive-minded pricing system that relies on real-time, available data that directly correlates with what your competition is charging for similar products or services.
CBIG is uniquely qualified to offer CBIG Price™ optimization services, which build on the success of our leading research and deployment of advanced data mining technology. In today’s mass-consumer environment, products are continually adjusted based on supply, demand and competitive forces. CBIG Price™ optimization presents an intelligent pricing module that provides the logic to help your business hone in on the right price while maintaining profitability for your products:
CBIG Price™ optimization includes but is not limited to the following ongoing services:
- Competitor identification, similar product evaluation;
- Competing product-matching/comparison analysis;
- Baseline pricing structure comparison analysis;
- Predictive pricing analyses and a basis to formulate pilot programs, strategies and tactics;
- Competing supply chain/inventory analysis;
- Periodic reporting and analytics to modify pricing strategies as required;
- Cloud computing services to manage data storage.