Price Optimization

Is your organization concerned with how to price your products properly to complete in the marketplace and make the most margins? What is your customer willing to pay for your products and services? 
 
Maximize your profitability and maintain competitive with price optimization analytics and machine learning. 

Price Optimization Consulting Services

Dunn Solutions' Data Science team has developed dynamic statistical pricing models that are capable of modeling a buyer's decision, including what they are willing to pay for a product. 

Every customer is not the same, however, and creating personalized pricing strategies  for each combination of product and customer ensures both short- and long-term profitability.

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  • Optimize Unite Price and Increase Sales

  • Price Optimization Model

  • Price Optimization and Marketing

Optimize Unit Price and Increase Sales

Imagine if you had the ability to increase profit margin by 10% and a 40% increase in units sold. If your organization struggles with why some products sell well and others sit on the (virtual) shelf, a price optimization model will determine pricing to reflect demand and maximize units sold at a predetermined margin%. 

These predictive analytics models consider any or all of these factors to maximize gross sales and profit margin: 

  • Current vs. optimal price 
  • Cross-product cannibalization
  • Seasonality
  • Competitive pricing
  • Discounting

Price Optimization Model

Our team will analyze your past sales data (POS and e-commerce) and develop a predictive model to determine the optimal price for each item in the data set to maximize units sold and margin.  


 

Price Optimization and Marketing

Once the model is executed, this creates an opportunity for the number of buyers to increase. The hidden opportunity lies in acquiring new customers in addition to current customers when the incentive to purchase is at the “sweet spot”.  

Marketing must be prepared to engage with new customers and get them into the sales funnel. To maximize this opportunity, consider Dunn Solutions to create a marketing mix attribution model. This model will determine your optimal spending per channel for the most profit.  

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