Revenue Growth Management Promotion
Revenue Management Growth Promotion (RGM Promotion) is a unique study that brings together the insights from two powerful components: It merges Promotion Lab and Comparative Willingness to Pay studies. In Promotion Lab, explore diverse offerings, while Comparative Willingness to Pay assesses new product prices, packaging preferences, and price adjustments. Together, they offer a comprehensive analysis to optimize revenue management strategies for effective product promotion and pricing.
Challenges it solves
Selecting the best deals for customers
Businesses often face the challenge of figuring out which promotions and products will appeal most to customers. RGM Promotion, with its Promotion Lab component, helps solve this challenge by testing different options to identify the most attractive offerings that customers love.
Setting the right price for new products
Setting prices for new products can be tricky. RGM Promotion's Comparative Willingness to Pay tackles this challenge by helping businesses choose entry prices for new products that customers find reasonable, ensuring a better start in the market.
Understanding what packaging works best
Knowing which packaging concepts customers prefer is crucial. With Comparative Willingness to Pay, RGM Promotion addresses this challenge, allowing businesses to test and choose packaging that adds value and resonates positively with customers.
Deciding when and how much to increase prices
Businesses often struggle with deciding when and how much to increase prices. RGM Promotion's Comparative Willingness to Pay helps tackle this challenge by identifying suitable opportunities for price adjustments, ensuring a balanced approach that aligns with customer expectations and market dynamics.
RGM Promotion combines Promotion Lab and Comparative Willingness to Pay studies to pinpoint attractive offerings for customers, set suitable entry prices for new products, select preferred packaging concepts, and identify opportunities for price adjustments, offering a comprehensive approach to optimize revenue management strategies.
Employing this strategic methodology helps businesses optimize how they set prices, run promotions, and select products to ensure the most effective approach for maximizing overall earnings.
Smart Pricing and Deals:
Through RGM, companies can intelligently determine appropriate product prices and run promotions that resonate with customers. Striking a balance between value and revenue, businesses can offer attractive deals without compromising profitability.
Conducting this study aids businesses in understanding customer preferences. By analyzing market trends and customer behavior, companies can make decisions that prioritize customer satisfaction, aligning pricing, promotions, and product offerings with customer preferences.
Staying Competitive in the Market:
Utilizing this methodology allows businesses to closely monitor competitors' actions. By staying informed about the competitive landscape, companies can make strategic decisions that keep them ahead and flourish in the market.
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, customer behavior, and competitive landscapes, RGM provides actionable insights, allowing businesses 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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