LONDON--(BUSINESS WIRE)--Premier analytics solutions provider, Quantzig, has announced the completion of its latest price elasticity modeling engagement for a consumer packaged goods manufacturer based out of the UK. Request a FREE demo for comprehensive solution insights.
Consumer packaged goods companies are constantly looking for sustainable ways to thrive in this highly competitive global CPG market, which is being disrupted continuously by nimble online competitors. Though several factors impact the market growth, it is essential to note that consumers in the 21st century are spoilt with numerous choices; thus, they shift their brand loyalty in a short span of time, impacting the profitability of CPG businesses. In such a scenario, price elasticity models have proven to help CPG firms to gain a competitive advantage through optimal pricing strategies. With several factors affecting profitability , it is cumbersome for CPG businesses to identify the optimum price for their offerings. Hence Quantzig has developed a comprehensive portfolio of pricing solutions that leverage price elasticity models and data analysis to help CPG firms drive long-term success and profitability using data-driven insights.
Wonder how to improve your pricing strategy without disrupting the brand identity and market share? Request a free proposal now.
Quantzig’s Methodology The client is a multinational consumer packaged goods company headquartered in London. Facing several challenges in pricing, the client wanted to leverage the price elasticity model to derive optimum pricing for their products. They were also looking forward to identifying a new approach to place their products in the market to drive product habit formations and enhance customer loyalty. Thus they approached Quantzig to leverage its expertise in pricing analytics to understand the market response to price changes.
The pricing analytics experts at Quantzig helped the client to develop and implement a price elasticity model to draw insights on price recommendations for their range of products in the European market, which enabled the client to identify new and advanced pricing opportunities. Later the experts also helped the client to fix pricing misalignments to gain additional revenue. This price elasticity model also helped in creating and executing marketing strategies to promote specific products.
Get in touch with our experts to know how our data-driven price elasticity models can help you to fix pricing misalignments.
Business Impact Quantzig’s experts helped this CPG brand to increase market share and promote specific products by adopting a holistic three-pronged approach. The key business outcomes of this engagement were-
- Increased in overall sales by 14%
- Developed optimum product pricing strategies based on demand, market, and competition
- Saved over €100,000 as a result of the revamped pricing strategy in a span of one year
Request more info to know more about our pricing analytics solution portfolio.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 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 55 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal