DM12: Optimize prices for deal guidance

Check out a video demonstration for this use case, here.

Use Case Situation Description

Price guidance delivered to salespeople on every deal, reflecting the uniqueness of every situation, can improve profitability in the discrete manufacturing industry. However, universal or one-size-fits-all pricing strategies can lead to underperformance. Detecting pricing segments and running multiple segment-level optimized pricing models can help simulate the impact of price guidance, leading to margin expansion, higher win rates, and increased sales efficiency all of which are part of what Pricefx can do.

Pricing & Data Science Manager

Business Objective:

Provide customer and product specific deal guidance (floor, target, and stretch prices) to improve profitability. / Price guidance delivered to sales- people on every deal in their system of action and reflecting uniqueness of every situation.

Universal or on-size-fits all pricing strategies lead to value lost and underperformance with no advanced capabilities.

Detect pricing segments and run and visualize impact of multiple segment-level optimized pricing models before publishing to sales.

Simulate impact of price guidance
Margin expansion, higher win rate, increase sales efficiency / Price quality and speed of quotes drives increased margin and win-rate
Sales adoption increases with guidance supported by visual analytics – easily consumable at a time of quote
Ability to manage and update optimization as needed in-house with expert services as needed

None

Prescriptive Design Requirements

Coming soon

In this use case we are going to take a look at how optimizing prices for deal guidance in the discrete manufacturing industry can improve efficiency and drive growth, and how this can be done in Pricefx. This approach can help identify cross-selling and upselling opportunities, improving customer satisfaction and loyalty. By streamlining the pricing process, companies can also improve efficiency and reduce errors.