Collect, utilize and analyze all available information to formulate an appropriate pricing strategy. Measure performance and optimize the strategy to meet your goals.
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 so that 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 pricing process is a strategy that establishes the competitive strength of the customer's chain against its competition. FuelsPricing 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 is designed to provide the capabilities that are 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, which enables optimization of either margin or volume. FuelsPricing works with customers to determine what is the appropriate strategy set-up for their market.
The "raison d'etre" for FuelsPricing is to provide pricing analysts with world-class tools so that they can analyze the situation, measure performance and take corrective action based on current information, in a structured easy-to-understand, repeatable pricing process that delivers optimized profitability.
All wish to possess knowledge, but few, comparatively speaking, are willing to pay the price.