An advanced pricing strategy is no longer a theoretical board room discussion topic. It is an essential part of maximizing value for your business, and having a plan is required.
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Airlines and hotels were early adopters of dynamic pricing – those who captured the first mover advantage grew their value dramatically at the expense of their competition.
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Now companies of all sizes are diving into the application of advanced pricing tools and realizing optimal pricing is a true game changer. Staying away from pricing analytics and ignoring its inherent complex nature would be a mistake. At Altum, we can bring cutting-edge techniques to your organization and help you understand their application and benefit.
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There is also much to be said about the value of tribal knowledge and understanding industry structure and competitive norms. We’ll make sure that our suggestions are rooted in your knowledge as well and run experiments to validate our approach and increase our collective confidence and learning.
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While many companies recognize pricing as a top profit lever, their pricing approaches remain undocumented, informal or otherwise sub-optimal. We’ll first start by understanding why you do what you do, but then work with you to apply steadily increasing levels of insight and capability around your pricing regime.
Pricing Analytics and Execution
We’ll help you evaluate the trade-off’s between:
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Market share penetration tactics
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Periodic margin or cash optimization decisions
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Multi-channel dynamic and/or real-time pricing