LONDON--(BUSINESS WIRE)--Global analytics and advisory firm Quantzig recently completed a pricing analytics study for a leading pharma retailer in Europe. The goal of the study was to create a strong pricing strategy and mechanisms to track, monitor and manage the prices.
Stakeholders such as clinicians, KOLs, payers, and patients associated in the pharmaceutical industry play a major part in formulating effective pricing strategies for introducing new products in the market. A proper understanding of the current market scenario and target customers is necessary before setting an optimal launch price. By implementing pricing analytics tools, pharma companies can get an insight into the product value, competitors, payer strategies, and customers’ willingness to pay.
According to Quantizg’s pharmaceutical industry analytics experts, “One of the major challenges that pricing managers in the pharma industry deal with is getting all the internal stakeholders to agree on the pricing strategy. With pricing analytics, this is tackled as the assessment is a robust way of analyzing data.”
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Quantzig’s latest pricing analytics study identifies the value drivers for products in the pharmaceutical industry and identifies how it is perceived to recommend the optimal price.
This study provides insights such as:
- Real-time visibility of product prices, market share, and discounts
- Analytical capabilities to monitor and benchmark prices across geographies
- Benchmarked product prices against competitor offerings to gain insights into industry standard pricing
- Analysis of online data for 1000+ price points across targeted business product portfolios
- And many more
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.