Key requirements of an effective pricing solution for a mass retailer. Is MS Excel a suitable platform on which to build an effective pricing tool?
The management of prices within the pricing strategy, and the resulting piloting of revenue and margin performance to ensure that financial targets are being reached, is a critical function for any retailer. The design and functional capabilities of pricing and revenue management tools need to meet the requirements of performance, efficiency, reliability and scalability expected…Read More
Validating price positioning and performance rules. To make sure that prices do comply with the agreed price positioning rules and also achieve, within the agreed forecast horizon, the revenues and profits targets, representing the company’s financial goals, it is critical to make sure that the price positioning rules and financial targets within which prices have to be…Read More
Pricing and revenue management: Retailers should look at the lessons learned from the airlines industry 20 years ago
After the “price optimisation” hype of 10 years ago, one can only see that most retailers have not invested in any of the price solutions proposed by the different software vendors, although their operations became significantly more complex and their respective markets much more competitive. Contrary to companies operating in other mass market and service…Read More