Revenue Growth Management Ultra
Revenue Growth Management Ultra (RGM Ultra) Study is a combination of three of PriceBeam’s most popular studies which are Comparative Willingness-to-Pay (CWtP), Value Attribute (VA) and Promotion Lab (PL) to give customers the possibility to solve multiple challenges in a single study. RGM Ultra will enable customers to understand consumers’ Willingness-to-Pay for a product, the biggest deciding factors when faced with a choice as well as identifying promotion mechanism effectiveness.
PriceBeam RGM Ultra is part of the PriceBeam RGM360 Solution
What is an RGM Ultra study?
RGM Ultra combines scientific methodologies from the Comparative Willingness-to-Pay (Van Westendorp, Gabor Granger, Newton-Miller-Smith), Value Attribute (Choice-Based Conjoint) and Promotion Lab (A/B testing and Simplified Choice-Based Conjoint) as well as Machine Learning to continuously improve the model.
RGM Ultra will provide insight into the overall sample of a market tested as well as the opportunity to create key segments such as channels, retailers, specific demographics, and more to unlock powerful insights for a tailored pricing strategy.
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Compare promotional effectiveness
RGM Ultra will enable customers to compare promotion effectiveness across all products tested and identify the optimal Volume, Revenue, and Margin Uplifts across different segments as well as compare Revenue Uplift with Rational Price. RGM Ultra will provide psychological price points, price cliffs, and pricing thresholds for individual products as well as consumers biggest driver when faced with a choice.
Challenges it solves
Promotion Effectiveness
Will this promotion drive revenue? RGM Ultra assesses which promotions drive incremental sales versus those that cannibalize existing demand, businesses can optimize their promotional strategy.
New Product Pricing
Do you need to price a new product or service? What features make customers willing to pay more? RGM Ultra provides robust insights into optimal pricing strategies for new product launches. By analyzing market demand, customer willingness-to-pay, and competitive pricing landscapes.
Market Simulation
It's challenging to predict how changes in pricing or market conditions will affect. RGM Ultra studies can run market simulations using data from various factors (customer behavior, economic conditions, competitor moves) to model the potential outcomes of different pricing strategies.
Price Increases
How do you implement a successful price increase? RGM Ultra helps businesses understand price elasticity across different customer segments and product lines.
Competitive Choice Analysis
What should the price be vs competition? A competitive choice analysis helps businesses understand how their product stacks up against competitors in terms of price and value.
New Concepts
Pricing new concepts or innovative business models (such as subscription services or digital offerings) is challenging. RGM Ultra uses data-driven methodologies to simulate pricing models for new concepts to find the most profitable and scalable approach for new concepts.
Value Driver Assessment
Understanding what factors (value drivers) influence a customer's decision to pay more or less for a product. RGM Ultra looks into customer preferences to identify and quantify the key value drivers that influence purchase decisions.
Who an RGM Ultra study is for?
Innovation Team:
An RGM Ultra study will help innovation teams with the development of products and understand how consumers will react to any new product development, concept or promotion.
RGM Team:
Revenue growth teams will benefit from using RGM Ultra to help with pricing strategy, price architecture, price planning and execution.
Insights Team:
The insights team benefits from an RGM Ultra 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 Ultra studies to help identify value perception of products/services, promotion effectiveness.
Industries that benefit from RGM Ultra:
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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Let's get you started
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Case studies
Learn how our customers were able to solve their pricing challenges and increase revenue.
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PriceBeam Webinars
Catch up on all our webinars from topics on AI, RGM, Promotional Pricing, Market Simulation, and much more.