Prices impact demand and so do many other factors such as competition, seasonal phases, natural product life cycles, promotions, media, substitute product prices, etc. Predicting the impact of price changes on demand requires one to deal with all of the above. Price Response is created to take the mystery out of price response. Simply supply the transaction data and we will tell you if the price changes you've been making have a real impact or customers are simply temporarily switching brands or pantry loading.
- Isolate the impact of non-pricing factors on demand - media, seasonality, substitutes, and competition
- Quantify both price lifts on promotional events, and average price elasticity on long term list changes
- Visualize promotional events by time, lift, media and product categories
- Calculate the best price to achieve your revenue and profit objectives
- Maximize promotions effectiveness