Optimizing profitability in a marketplace with high product cost and related retail price volatility makes it essential that retailers can react quickly as competitors change prices. This needs to be done from a understanding of the local station micro-market such that prices only change when it makes sense. Failure to move at the optimal time to the optimal price can result in significant volume loss or failure to capitalise on margin opportunities.
At the heart of the FuelsPricing.com pricing process is the strategy which establishes the competitive strength of the customer's chain against its competition. FuelsPricing.com provides tools to collect, analyze and transform quantitative and qualitative data into a standardised scoring methodology to rank sites in a micro market. Available volume and pricing data is analysed to assess site elasticity and a formal site strategy developed.
The nature and form of the strategies is a function of the market and the quality, quantity and cost of the available data. FuelsPricing.com is designed to provide the capabilities which is appropriate for every market and data situation. With the availability of high quality data in a price volatile market strategies can incorporate statistical predictive modelling to assess what volume impacts will be for every price change allowing optimization of either margin or volume. FuelsPricing.com works with customers to determine what is the appropriate strategy set-up for their market.
Providing the pricing analyst with world class tools so that they can analyze the situation and measure performance and take corrective action based on current information at their fingertips in a structured easy to understand repeatable pricing process which delivers optimised profitability is the "raison d'etre" for FuelsPricing.com.
It allows the answers to these questions below and many more