There is often no more powerful lever to a company than the price of its products and services. Even small changes in price can have a major impact on uptake, share of wallet, revenue, margins, profits. If you’re to get one thing right in your business mix, make sure it’s price.
And in many areas of the public sector, price is crucial to maximize service usage in order to offset costs or incent desired behaviour, whether that be in road tolls, public transit, fitness facilities, educational and cultural facilities (libraries, museums, galleries), and so on.
Some of our clients have simply needed a directional price check to understand the marketplace’s willingness to pay for a new product. With other clients we have partnered to answer much more complex pricing questions, such as:
- How does price sensitivity differ across key segments within the U.S. Telco market, where our client was fighting for market share?
- How would a change in the price of our client’s digital media solutions affect the perceived quality of their brand?
- How would a change in the price of a few items affect the demand for our Manufacturing client’s entire portfolio?
- What alternative pricing models could our Software Developer client consider to attain more revenue from their new offering?
- What would happen to our Retail client if they matched and undercut their competition’s everyday low price?
- How should our QSR client optimize its menu price to maximize revenue?
- How should a government ministry price tolls on its high occupancy lanes for various driver segments/groups to maximize usage?
- What is the usage sensitivity of riders of a public intra-city rail system to fare variations?
- What is the willingness to pay for subway service on an extension in a major south american city under a number of alternative scenarios?
Whether your pricing questions are simple or complex, Advanis has the right specialists, tools, and advanced analytical approaches to answer them.
We do not rely on off-the-shelf solutions: we tailor our solutions to provide impactful and actionable answers to your questions. We’ve done that for over 100 brands and organizations locally and globally. Let us help you make smart pricing decisions.