- Right product and price
- Optimal timing and sales channel
Advanced Analytics and Big Data tools allow companies to analyze the purchasing behavior, online interactions, preferences and interests of customers to obtain a highly detailed profile. The evolution of the supply and demand of specific products or services in order to tailor prices to customer needs and purchasing power at a given time.
These techniques can be applied across practically all industries and only require the implementation of an online Marketplace or proprietary app.
everis has worked with a fast-moving consumer goods company interested in improving sales and return on marketing investments.
Some business questions to be answered
- What drivers have an impact on my demand at SKU and Point of Sales level? How much do they impact?
- Which is the impact on sales probability when price increases x %?
- Which is the expected cannibalization effect?
- What will be my future demand in different time frames?
Solution
everis worked with the commercial, finance, supply chain, marketing and IT departments of this company to design a model that measures daily price elasticity at a great level of detail. The model provides controllers with the ability to suggest price variations at Point of Sale level and measure impact of the actions taken.
Benefits achieved
