Revenue Growth Management Promotion
Revenue Growth Management Promo (RGM Promo) Study is a combination of two of PriceBeam’s most popular studies which are Comparative Willingness-to-Pay (CWtP) and Promotion Lab (PL) to give customers the possibility to solve multiple challenges in a single study. RGM Promo provides insight on consumers’ Willingness-to-Pay for a product as well as identifying promotion mechanism effectiveness.
PriceBeam RGM Promotion is part of the PriceBeam RGM360 Solution
What is an RGM Promo study?
RGM combines scientific methodologies from the Comparative Willingness-to-Pay (Van Westendorp, Gabor Granger, Newton-Miller-Smith) and Promotion Lab (A/B testing and Simplified Choice-Based Conjoint) as well as Machine Learning to continuously improve the model. RGM Promo will provide insight across the overall sample of a market-tested as well as the opportunity of creating key segments such as channels, retailers, specific demographic, and more to unlock powerful insight for tailored pricing strategy.
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Promotion Effectiveness
RGM Promo will enable users to compare promotion effectiveness across all product tested, identify the optimal Volume, Revenue and Margin Uplifts across different segments, and compare Revenue Uplift with Rational Price. It will also provide psychological price points, price cliffs and pricing thresholds for individual product tested.Challenges it solves
New Product Pricing
Do you need to price a new product or service? What is the optimal price? An RGM Promo study uses customer willingness-to-pay models to determine optimal pricing for new products.
New Concepts
Pricing new concepts or innovative business models (such as subscription services or digital offerings) is challenging. RGM promo helps businesses explore different pricing models and run comparative studies to find the most profitable and scalable approach for new concepts.
Price Increases
How do you implement a successful price increase? How big an increase can your brand justify? RGM promo study assesses customer price sensitivity to price changes and willingness-to-pay.
Promotion Effectiveness
What promotion will generate the most revenue? RGM Promo will enable users promotion effectiveness across all tested products, identify optimal volume, revenue, and margin increases by segment, and assess revenue uplift against rational pricing.
Who is an RGM Promo Study for?
RGM Team
Revenue growth teams will benefit from using an RGM promo to help with pricing strategy, price architecture, price planning and execution.
Innovation Team
An RGM Promo study will help innovation teams with the development of products and understand how consumers will react to any new product development or concept.
Insights Team
The insights team benefits from an RGM Promo study as it makes it easier to run pricing insights and provides the organization with detailed robust reporting.
Marketing Team
Marketing teams will benefit from RGM Promo studies to help identify value perception of products/services.
Industries that would benefit from RGM Promo:
FMCGs/CPG
Beverages
Apparel
Cosmetics
Home Care
Food
Pet Food
Consumer Electronics
Veterinary Products
Consumer Goods
Services
Technology
Achieve your RGM goals
Holistic Approach to RGM
PriceBeam uses a holistic approach to achieve your revenue goals by integrating pricing, product, promotion, and various strategies across the organization to optimize all the factors that drive revenue growth. This approach provides users with a complete 360-degree view of revenue.
Advanced Insights
Leverage the power of data. Simplify data management with automated systems that load your data into a data repository, reducing manual input errors and increasing efficiency. Use world-class reports provided by PriceBeam experts to identify price opportunities or revenue issues.
Speedy Global Delivery
Results are available in as little as a day and never more than a few weeks, regardless of complexity. PriceBeam's cloud platform also delivers results 24/7 Globally in 127 markets.
Resources
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Case studies
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