Pricing & Price PredictorTM

The Price is Right, Right?

Today’s consumers are savvy shoppers and minor price shifts may make a significant sales impact – up, or down.

Most market research anticipates that consumers make rational decisions. That research forces participants to use analytical, rational thinking when, in real life shopping scenarios, consumers use quick, often subconscious thinking!

But behavioral economics tells us consumers are not rational when shopping. Rather than reading all the copy on a package and processing each of its benefits relative to a competitor’s, consumers instead search for simple cues that bring positive associations to their minds – often subconsciously.

Testing alternatives on DI’s proprietary virtual shopping platform identifies and validates the impact of pricing variations on actual behavior – not stated intent. The platform can also simulate competitive price changes to anticipate reaction in the marketplace.

ShopperIQ-Price Predictor combines the predictive benefits of Virtual Shopping with Machine Learning to achieve the perfect price. When there are an overwhelming number of price options and possible market responses, Machine Learning can run tens of thousands of simulations to explore all possible scenarios. You get a simulator that can be updated regularly to always stay ahead of the curve.

If your price has to be just right and you need research results that measure sales – not intent, it might be time to talk to one of our pricing experts.

 

For a deeper dive into price elasticity analytics and virtual shopping, you may want to check out this webinar featuring TABS Analytics and hosted by Blacksmith Applications, Price Elasticity Analytics Reimagined.
 Pricing
ShopperIQ Proprietary Solutions
1

ShopperIQ Proprietary Solutions

ShopperIQ, Decision Insight’s proprietary suite of virtual shopping research solutions, provides the go-to-market confidence required in today’s competitive retail world.
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Best-In-Class Research

Our best-in-class research and insights specialists reliably transform consumer insights into successful retail solutions. By testing alternative in-store initiatives in the context of an actual store environment with a full category assortment, we are able to measure sales impact – and the important “whys” behind the sales activity.
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Cost Effective

Making the case for retailer implementation and going to market with confidence has never been easier, faster or more cost effective. And, DI ShopperIQ results correlate to in-market data at 90% or better.
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No one understands modern shopper behavior and consumer motivation like Decision Insight.

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