Price Optimization
Is your organization concerned with how to price your products properly to complete in the marketplace and make the most margins? What is your customer willing to pay for your products and services?
Maximize your profitability and maintain competitive with price optimization analytics and machine learning.
Price Optimization Consulting Services
Dunn Solutions’ Data Science team has developed dynamic statistical pricing models that are capable of modeling a buyer’s decision, including what they are willing to pay for a product.
Every customer is not the same, however, and creating personalized pricing strategies for each combination of product and customer ensures both short- and long-term profitability.
KaarTech Expertise, customized for you
Optimize Unit Price and Increase Sales
Imagine if you had the ability to increase profit margin by 10% and a 40% increase in units sold. If your organization struggles with why some products sell well and others sit on the (virtual) shelf, a price optimization model will determine pricing to reflect demand and maximize units sold at a predetermined margin%.
These predictive analytics models consider any or all of these factors to maximize gross sales and profit margin:
- Current vs. optimal price
- Cross-product cannibalization
- Seasonality
- Competitive pricing
- Discounting
Price Optimization Model
Our team will analyze your past sales data (POS and e-commerce) and develop a predictive model to determine the optimal price for each item in the data set to maximize units sold and margin.
Price Optimization and Marketing
Once the model is executed, this creates an opportunity for the number of buyers to increase. The hidden opportunity lies in acquiring new customers in addition to current customers when the incentive to purchase is at the “sweet spot”.
Marketing must be prepared to engage with new customers and get them into the sales funnel. To maximize this opportunity, consider Dunn Solutions to create a marketing mix attribution model. This model will determine your optimal spending per channel for the most profit.
KaarTech has been a great partner in our digital work. Our teams have worked collaboratively and innovatively to accelerate the delivery of our amazing digital mortgage buying experience.
Wendy Redshaw
Chief Digital Information Officer, Retail Banking, NatWest GroupWe trusted KaarTech to reimagine our customer experience. Their team delivered scalable digital solutions with measurable business impact across channels.
Alex Morgan
VP Digital Transformation, RBC CanadaThe innovation mindset of KaarTech helped us achieve digital speed. They blended agility and enterprise-grade delivery for our new banking platform.
Jaya Menon
CTO, UBank AustraliaWe accelerated our cloud migration with KaarTech. They enabled resilience, automation, and better CX outcomes across our global teams.
