Extensive experience, in both the public and private sectors, has allowed us to develop specialist tools. We are pragmatic and totally client-focused. That's why our clients find that our solutions are easy to use and deliver long-term, measurable benefits.
Pricing optimisation
Effective pricing is not a product of guess work; it is a product of robust data collection and analysis. By knowing the how to ask the right questions in the correct way data-driven pricing can be undertaken. Effective pricing is not a product of guess work, it is a product of robust data collection and analysis. By knowing the how to ask the right questions in the correct way, data-driven pricing can drive tremendous value.
Through the use of conjoint analysis indifference curves can be used to estimate market uptake and consumer drop-out rates. With this information it is possible to use pricing knowledge scientifically to drive product development, market growth, and customer retention.
Much of the value from pricing analysis is found in the ongoing monitoring of consumer behaviour. It is important to keep a finger on the pulse so that the appropriate reactions can be made as market conditions change.
Once a strategy is plotted, there is often plenty of work still to do in implementing the strategy. Robust costing analysis can identify the unit cost of thousands of products or product groups, and strategic margins can be overlaid on top of these costs to determine granular pricing. What's more, Concentra can help embed these processes and tools in your organization. What you want is a long-term pricing strategy and the tools to optimise them not once, but in an ongoing way.
Customer segmentation
Segmentation is the process by which a customer base can be grouped into distinct segments in order to develop targeted pricing and marketing strategies with the most effective allocation of resources. Good segmentation creates segments with the same or similar internal attributes that also have prominent differences between segments. Typical attributes used for segmentation include demographics, geography and purchasing behaviours such as channels, products and volumes. Both B2C and B2B clients use segmentation in order to understand the behaviour of their customers and apply the learning to, for example:
- Trend monitoring and forecasting
- Customer retention / growth
- Sales force effectiveness
- Pricing strategies
Segmentation can be a complex process, so at Concentra we make use of sophisticated analytical tools that employ rigorous statistical methods.
