Promotion Lab Enhanced
Promotion Lab Enhanced study provides the opportunity to test different promotional mechanisms, products, and channels to identify the best offerings for the customer and determine which choices are the most popular. The study incorporates three key elements: Optimal Price Setting, Price Increase Planning and Price Promotion Planning.
Challenges it solves
Understanding the Impact of Promotions and Non-price Promotions
Promotion Lab Enhanced enables you to test both price and non-price promotion responses to understand the impact on the consumer. Allowing you to gain insight into various types of promotion that you can use aside from price.
Promotion Lab Enhanced enables you to measure the uplift per mechanism for volume revenue, and profit. This study goes complimentary alongside Promotional Lab, which solely focuses on price.
Optimizing Customer Value
One of the challenges businesses face is determining the right price for their products or services. This study tackles the challenge providing insights into optimal price setting. By understanding the price elasticity of their offerings, companies can strike a balance that maximizes customer value while ensuring profitability.
Price Increase Planning
For businesses seeking to implement price increases, this study offers a strategic approach to planning. You can assess how changes in pricing may impact customer behavior and overall demand. This insight is crucial for implementing price increases that are not only acceptable to customers but also contribute positively to the company's bottom line.
Promotion Lab Enhanced offers many benefits that can give you more insight into all types of promotions.
Comprehensive Promotion Testing:
Promo Lab Enhanced allows businesses to test both price promotions and non-price promotions to understand their impact on consumer response.
Uplift Measurement for Growth:
This study goes beyond just looking at promotions; it measures the uplift in volume, revenue, and profit for each promotion mechanism. This helps businesses identify which promotions contribute most to growth in different aspects of their operations.
Complementary Analysis of Price Promotions:
While Promo Lab focuses on price promotions, Promo Lab Enhanced goes further by including non-price promotions. This complementary analysis provides a more holistic view, ensuring that multiple aspects of promotions are considered for a well-rounded strategy.
Optimize Promotion Strategies:
By understanding the impact of both price and non-price promotions on consumer response, businesses can make more strategic decisions. providing insight into the optimization of promotion strategies for maximum effectiveness and positive consumer engagement.
How Does It Work
PriceBeam’s solution conducts extensive market research. It works by strategically optimizing pricing, promotions, and product assortment to maximize a business's overall revenue and profitability. Through a comprehensive study that analyzes market dynamics, Promotion Lab Enhanced provides actionable insights, allowing you to make informed decisions for sustained revenue growth.
Define offering & target market
Conduct Market Research
Available in 127 countries
Run the analyses in 127 countries around the world without leaving your desk. PriceBeam takes care of finding respondents, asking the right questions in the local language, interpreting results, and delivering the final analysis to you.
- You define the target market and describe the product.
- PriceBeam finds the right respondents in each of the markets.
- Run single-market assessments.
- Run and compare results between countries, as part of international launches or price increases.
PriceBeam solutions can solve different types of pricing challenges.
Essential Package - Consumers
Quickly research what your customers in a given market are willing to pay for a product or service.
Advanced Package - Consumers
Expand research by analyzing Willingness-to-Pay overall as well as per segment.
Understand what willingness-to-pay among business customers.
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