The price is one of the most important instruments for increasing your business revenue. However, experience shows that leeway as regards pricing is often not used to the full.
Let the BBE consultants help you optimize your pricing. On the basis of thorough analyses, price surveys on the market and our longstanding project experience, we develop best-practice solutions for the swift success of your pricing.
The focus of our work rests on:
- determining the market price level
- analysing and optimizing the price organization
- optimizing the price-finding and price-setting processes
- reviewing terms and discount systems
- pushing ahead with implementing the pricing
BBE price surveys create transparency for ensuring that prices are in line with the market. For many years now we have been conducting price enquiries at retailers and in various service channels. Our price analyses cover all European markets, as well as Asia and Latin America.
Price analyses need to be planned with care. In advance of the analysis, the relevant products or ‘shopping basket’ must be clearly defined and a detailed random sample plan developed so as to representatively reflect the distribution structure. The price enquires are conducted through the BBE call centre by experienced and specially trained interviewers. Should surveys need to be conducted on-site, we use mystery shoppers with longstanding experience in this field. In addition, we have access to a network of established partner institutes. It is important to know that all interviewers are supervised centrally via the BBE call centre and monitored in real time. Prices on online portals are likewise surveyed if this is provided for in the random sample plan. The pricing information is processed into a compact database, with prices and index values listed by brand, region, distribution channel and individually defined criteria.
Besides the price index, it is equally important to know whether competition exists on the market and how intense it is.
BBE can support you in developing company-specific availability indices. We discuss the possible competition levels with you, and demonstrate various calculation methods and their results. Drawing on the price monitor methods and specialists, we collect the relevant data for you.
Setting the price
The price is by far the most important instrument for increasing revenue. BBE Automotive supports you in setting the optimum prices for your products and services. We help you
- determine what customers are willing to pay for products and services,
- identify price ranges from the customer’s point of view,
- establish price thresholds which should not be exceeded or undercut,
- estimate turnovers and market shares with different price scenarios.
- Gabor Granger,
- Van Westendorp Price Sensitivity Meter (PSM),
- Conjoint analyses.
Tools for market-oriented pricing
BBE Automotive can develop and program tools to help you in determining and setting prices. These tools are based on a price formation model which takes into consideration various price-determining factors, from competitive pressure in the product segment through to price sensitivity in the target groups. An integral component of this model is a ‘what-if’ analysis, by which the sales impact of the new pricing can be simulated and estimated. BBE Automotive supports you in setting up the system and in developing pricing guidelines, as well as in tracking the success of the pricing.