Pricing for Profit series #7: Pricing of large assortments

  • 10 Nov 2022

Many companies find it difficult to keep their list prices up-to-date. If you never revisit your prices, or if they do not reflect customer value, you risk losing margins, profitability, and revenue. At PriceGain, we help you improve your business results by 3-5 percentage points on Return on Sales (ROS).

So how can we help you achieve this?

Firstly, you need to create a process where prices are set according to the product's customer value. If your product is unique, you should sell it at a higher price than if it is a commodity that you can find with your competitors. You need to identify the value attributes for your business and quantify how they affect the prices. Lastly, you classify the products based on the identified value attributes. By following these steps, you will have prices that reflect the customer value and are unique to each product in your assortment.

To facilitate the price administration process and ensure profitable prices at all times, PriceGain has developed the pricing system, Pricise, that enables dynamic and customer-oriented pricing that integrates with your business system.

To find out more about setting your list prices and how our automated system Pricise can help you improve your business results, contact us!