Marketing Management Analytics Announces the Successful Launch of Its Pricing Strategy Solution
New pricing solution focuses on value creation and competitive advantage for manufacturers, retailers and restaurants, delivering predictive pricing strategies that optimize revenue and profits.
Wilton, CT, January 12, 2012 --(PR.com)-- Marketing Management Analytics (MMA), a leader in helping companies plan, execute, forecast and optimize their brand portfolios, marketing, pricing and product innovation investments, today announced the successful launch of its pricing strategy practice.
This revolutionary new pricing solution is a combination of MMA’s deep consultative expertise, the application of consumer attitudinal insights, predictive time series-based analytics and industry-leading software. The solution is designed to help decision makers in sales, marketing and finance define, implement and track the in-market performance of pricing strategies.
The current economic climate has presented companies with a significant dilemma when it comes to reconciling brand-building and pricing strategy initiatives. The trick is in finely balancing the two in order to drive long-term equity while appealing to the enhanced consumer sensitivities to price, but too often long-term equity is sacrificed for more immediate sales needs.
“This issue presents a conundrum for senior executives,” said Pat Cummings, CEO of MMA. “It’s generally understood that over-emphasizing price creates a potential risk to long-term brand health and the base of the business. What’s less understood is at what point depth of discount, frequency of promotion, competitive activity and consumer perceptions negatively impact a consumer’s propensity to buy. Between ever-evolving consumer attitudes, competitive market pressures and a challenging economic environment, many companies feel like the sky is falling and the ground is rising to meet it.”
In today’s business environment, nobody knows how fast or slow consumer attitudes and behaviors will change – or change again. Companies also can’t afford to either make snap judgments on pricing or take too long to react to competitive pricing actions, as either course can be very costly to the bottom line and brand share growth. Real-time pricing precision that enables executives to make informed, forward-looking and accurate decisions is a must-have capability. By integrating multiple forms of predictive analytics with behavioral data and consumer research, MMA’s new pricing solution will help companies address this challenge and balance the risk vs. reward equation of pricing and brand-building.
“MMA is focused on embedding pricing analytics into our clients’ business planning processes,” said Todd Gustafson, EVP of Operations and Analytics, who has spent over 25 years helping companies effectively make better pricing decisions. “Not only do our proprietary methodologies and approaches help companies address more profitable pricing decisions on a continuous, repeatable basis, but they connect the results directly to how consumers are making their purchasing decisions.”
In order to support ongoing value creation, MMA has established a data management and web-based price planning platform as part of its pricing strategy practice.
MMA’s Pricing Strategy and Analytics help decision makers answer the following business questions:
· What are the optimal base and promoted price points?
· How do pricing actions impact specific consumer segments?
· What are the right pricing levers to drive target consumer growth?
· How can pricing and brand-building activities work together to maximize short- and long-term growth?
· How do client pricing strategies interact with competitive activities in the marketplace?
· What is the impact of interactions across products (e.g. cross-elasticity, price gap)?
· Where are the price thresholds?
· What is the optimal depth and frequency of promotions?
· How would a change in the pricing strategy impact key performance metrics (traffic, guest count, transactions, sales, profits, etc.)?
“Often clients are laser-focused on driving incremental volume versus looking at the bigger picture,” said Doug Brooks, EVP, MMA. “The reality is that incremental sales generally represent a significantly smaller piece of a company’s total business. Often a share point of base sales can equate to five or more points of incremental volume. We want to create a price-planning foundation that enables companies to make decisions that support holistic short- and long-term business growth.”
For more information on the pricing solution, please visit http://www.mma.com/strategic_pricing.html.
About MMA
MMA is a unit of leading global market research company Ipsos. For more information on MMA, please visit http://www.mma.com/about_mma.html.
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This revolutionary new pricing solution is a combination of MMA’s deep consultative expertise, the application of consumer attitudinal insights, predictive time series-based analytics and industry-leading software. The solution is designed to help decision makers in sales, marketing and finance define, implement and track the in-market performance of pricing strategies.
The current economic climate has presented companies with a significant dilemma when it comes to reconciling brand-building and pricing strategy initiatives. The trick is in finely balancing the two in order to drive long-term equity while appealing to the enhanced consumer sensitivities to price, but too often long-term equity is sacrificed for more immediate sales needs.
“This issue presents a conundrum for senior executives,” said Pat Cummings, CEO of MMA. “It’s generally understood that over-emphasizing price creates a potential risk to long-term brand health and the base of the business. What’s less understood is at what point depth of discount, frequency of promotion, competitive activity and consumer perceptions negatively impact a consumer’s propensity to buy. Between ever-evolving consumer attitudes, competitive market pressures and a challenging economic environment, many companies feel like the sky is falling and the ground is rising to meet it.”
In today’s business environment, nobody knows how fast or slow consumer attitudes and behaviors will change – or change again. Companies also can’t afford to either make snap judgments on pricing or take too long to react to competitive pricing actions, as either course can be very costly to the bottom line and brand share growth. Real-time pricing precision that enables executives to make informed, forward-looking and accurate decisions is a must-have capability. By integrating multiple forms of predictive analytics with behavioral data and consumer research, MMA’s new pricing solution will help companies address this challenge and balance the risk vs. reward equation of pricing and brand-building.
“MMA is focused on embedding pricing analytics into our clients’ business planning processes,” said Todd Gustafson, EVP of Operations and Analytics, who has spent over 25 years helping companies effectively make better pricing decisions. “Not only do our proprietary methodologies and approaches help companies address more profitable pricing decisions on a continuous, repeatable basis, but they connect the results directly to how consumers are making their purchasing decisions.”
In order to support ongoing value creation, MMA has established a data management and web-based price planning platform as part of its pricing strategy practice.
MMA’s Pricing Strategy and Analytics help decision makers answer the following business questions:
· What are the optimal base and promoted price points?
· How do pricing actions impact specific consumer segments?
· What are the right pricing levers to drive target consumer growth?
· How can pricing and brand-building activities work together to maximize short- and long-term growth?
· How do client pricing strategies interact with competitive activities in the marketplace?
· What is the impact of interactions across products (e.g. cross-elasticity, price gap)?
· Where are the price thresholds?
· What is the optimal depth and frequency of promotions?
· How would a change in the pricing strategy impact key performance metrics (traffic, guest count, transactions, sales, profits, etc.)?
“Often clients are laser-focused on driving incremental volume versus looking at the bigger picture,” said Doug Brooks, EVP, MMA. “The reality is that incremental sales generally represent a significantly smaller piece of a company’s total business. Often a share point of base sales can equate to five or more points of incremental volume. We want to create a price-planning foundation that enables companies to make decisions that support holistic short- and long-term business growth.”
For more information on the pricing solution, please visit http://www.mma.com/strategic_pricing.html.
About MMA
MMA is a unit of leading global market research company Ipsos. For more information on MMA, please visit http://www.mma.com/about_mma.html.
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Marx Communications
Wendy Marx
203-445-2850
www.mma.com
Wendy Marx
203-445-2850
www.mma.com
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