Sign in to unlock valuable content and features from our AI-driven platform. Receive timely technology updates and the latest information from the solution providers who can help you realize your goals.
Start your journey by entering your name and email address below:
Please confirm your email address!
We are going to send a confirmation email to your email address to let you receive timely technology updates and the latest information from the solution providers who can help you realize your goals.
Is this you? Please confirm your name and email address below to receive the requested information.
Please check this box to confirm that you are opting-in to receive communications from Pinnacle Solutions and the data sharing outlined in our privacy policy.
Initializing
Loading
Life-Cycle Price Optimization
Download this whitepaper for an excellent in-depth analysis of how to navigate the phases of the product price lifecycle. Featuring best practices for product pricing at each phase, this resource will help you design the optimal pricing strategy that achieves your profitability goals. Contact Pinnacle Solutions, Inc. to discuss the recommendations and how to build them into your product price lifecycle strategies.
Please enter your information below to view this content:
What are the phases of the product price life cycle?
The product price life cycle consists of several key phases: the new product introduction phase, where the initial price is set; the promotional phase, which aims to drive traffic and sales; and the clearance phase, where strategies are implemented to manage excess inventory. Each phase requires tailored pricing strategies to optimize sales and profitability.
How does AI enhance pricing strategies?
AI plays a significant role in optimizing pricing strategies by identifying slow-selling products and initiating discounts earlier, which can help recover margins that might be lost if markdowns are delayed. It can analyze product attributes and sales data to recommend localized pricing strategies, ultimately freeing up managers to focus on more strategic tasks.
What challenges exist in the clearance phase?
Retailers often struggle with excess inventory at the end of the selling season, which can erode margins if not managed effectively. A one-size-fits-all approach to markdowns can lead to fewer sales and deeper discounts than necessary. It's crucial to implement a tailored clearance strategy that considers product performance and regional demand to optimize sell-through and profitability.
Life-Cycle Price Optimization
published by Pinnacle Solutions, Inc.
As the amount of data continues to grow rapidly within organizations, figuring out what to do with large data volumes can become a struggle – even a nightmare. We help people face the challenge of converting data into structured information that supports effective decision-making. We combine SAS’ analytical system with our own industry and statistical analysis expertise in order to present a complete solution offering for our clients. As an Amazon Web Services Partner, we also can host and manage our customer’s solutions in the cloud.
At Pinnacle Solutions, Inc. (PSI), our mission is to empower clients to analyze and interpret the “mountain of data” that they collect and utilize to improve business outcomes, support decision-making, and enable process improvements – from data management and integration to data visualizations and predictive analytics. Learn more about our people, partners, and history by exploring the links below.
Sign in with LinkedIn