TraceData Identify an optimal price point that balances customer satisfaction, product value, and revenue
As per TraceData Research survey, 40% of companies faces challenge to determine set competitive and optimal pricing which can help companies to beat competition and stay ahead of Industry for market penetration.
TraceData Pricing research analysis can help companies determine optimal prices for target segments, ascertain trade-offs between price and quality, assess price sensitivity and reactions to competitor prices.
TraceData team uses multiple methods to perform pricing analysis including
This method determines psychological price points by surveying consumers and understanding how much each customer segments are willing to spend on a product
Survey-based pricing analysis method that allows to study people resources while evaluating complex decisions
Survey based pricing analysis approach where potential customers are interviewed to assess their opinion about product and assess which precise attributes and features they like or dislike
Assess price elasticity of products and services
Evaluate Competitor pricing at SKU level, geography level, consumer level with seasonal adjustments.
Assisted 200+ Companies to Optimize their Pricing Strategies
Analyze over 10 million data points annually, ensuring our recommendations are based on robust and accurate data
Average Profit Margin Increase of 10% due to optimized pricing strategies.
Background: The client is a mid-sized fashion apparel company specializing in women clothing. Established in 2010, the company operates both online and through brick-and-mortar stores in major cities across the country.
Analysis and Strategy: The client is facing declining sales and increasing competition. TraceData Research conducted comprehensive pricing analysis focusing on competitor benchmarking, customer willingness to pay, and price elasticity of demand.
Impact: By adopting a dynamic pricing model and strategically offering discounts during peak shopping periods, the client saw a 15% increase in revenue within six months. Implemented personalized pricing strategies based on customer purchase history, leading to a 20% improvement in customer retention rates.
Background: The client offers a SaaS platform for project management and collaboration tools. Founded in 2015, the company primarily serves small to medium-sized enterprises (SMEs).
Analysis and Strategy: The client struggled with a high churn rate and competitive pressure. TraceData pricing analysis focused on understanding the value perception among different customer segments and optimizing the subscription pricing model.
Impact: Implemented a tiered subscription model that better matched customer needs, reducing the churn rate by 25% within three months. The client Introduced premium tiers with additional features, leading to a 30% increase in ARPU.
Background: The client operates chain of mid-range hotels with locations across the United States. The company caters to both business and leisure travelers and was established in 2002.
Analysis and Strategy: The client was facing challenges with fluctuating occupancy rates and seasonal demand variations. TraceData Research pricing analysis included dynamic pricing models and competitive benchmarking. Used historical booking data to develop a dynamic pricing model that adjusted rates based on demand forecasts and competitor pricing. Furthermore, TraceData Research monitored competitor rates to ensure competitive pricing.
Impact: Dynamic pricing model led to a 10% increase in occupancy rates during off-peak periods. Moreover, seasonal pricing adjustments resulted in 20% increase in revenue during peak travel seasons.
