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Competitive Price Scanner

Optimization of the price strategy.

What is Competitive Price Scanner?

 

Concept evaluation through applied neuroscience and behavioral economics.

Market research that takes the best of behavioral economics, data science and neuroscience to define a healthy launch and potential innovation strategy.

 

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Inspiration

 

Is your customer buying your product because you are the best option? Or is he buying from you because you are the less troublesome option?

Based on the answer to these questions, the price-setting strategy changes dramatically. It’s not only about determining a price: it’s about making the consumer find differential value and develop a purchase habit, given the perfect combination of numeric distribution, weighed distribution, active inventory, passive inventory, promotion and price.

Key questions to answer

 

sinnetic_pregunta_icono  How do we put together a price strategy that provides satisfaction to the distributor, the retailer and the consumer?

sinnetic_pregunta_icono   How can we reduce the impact of price increases by mobilizing distribution, communication and promotion?

sinnetic_pregunta_icono  Is it possible to simulate the impact of different price scenarios on the demand?

sinnetic_pregunta_icono  What is the price elasticity of my products and what is the optimal price?

sinnetic_pregunta_icono  What is the psychological profile of price made up of and how do we defend the value to the consumer?

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Key deliverables

 

sinnetic_icono_pasar  Psychological profile of price.

sinnetic_icono_pasar  Analysis and simulation of optical price and optimal price.

sinnetic_icono_pasar  Analysis of price elasticity, cross-elasticity and market seizure.

sinnetic_icono_pasar  Quantification of incremental and marginal effects. Financial simulation of the price.

Benefits Competitive Price Scanner

A scientific ecosystem

Having a holistic vision of your project based on pricing.

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Conjoint Analytics

A conjoint model that does not limit the number of attributes, SKUs or references to be tested.

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Strategy

Comprehensive understanding of the optical price (the one the customer deems fair), and the optimal price (the one that best represents the interests of the business), by using the psychological profile of price.

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Consumer Psychology

Fragmentation of optimal price based on functional and rational attributes of the product / service to understand how to justify the value proposition to the customer.

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Price Simulation

Use of simulation based on Jackknife to create as many optimal scenarios as possible to select the best possible price strategy.

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Sampling Design

Efficient sampling, stratified in three layers to obtain price variations at customer, channel and distributor level.

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Data Science

Use of Bayesian analytics to incorporate high-performance probability estimates, thus managing to understand in a detailed manner the impact of price on demand.

Regional coverage in Latin America, exporting services to the United States and Europe from our offices in Colombia and Mexico.

 

 

BOGOTÁ, COLOMBIA.

Carrera 13a #98 - 74,
Tel: +571 743 2819

gabriel.contreras@sinnetic.com

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CIUDAD DE MÉXICO, MÉXICO.

Blvd. Manuel Ávila Camacho 182,
Piso 6, Colonia Reforma Social.
Tel: +52 5525602232

lucie.poison@sinnetic.com

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HOW CAN WE HELP YOU?

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solution for your company.