Today we are announcing the launch of SKIM Price Explorer™, enabling marketers to make quick and confident pricing decisions when launching new products. With this affordable research solution, brands can uncover the optimal price for new products, while minimizing cannibalization and maximizing revenue potential. SKIM Price Explorer combines our rich analytical know-how, with the realistic pricing considerations consumers face today, such as the existing product portfolio and the competitive environment.
Today brand managers are asked to launch new products at the right price, every time – even when facing limited research budgets or timelines. SKIM Price Explorer can help ensure a successful product launch by identifying the optimal price point for a new product, concept or category in 5-10 days.
“Every day SKIMmers team up with leading companies and consultancy firms on pricing research – whether it’s to test new product launches, or doing sophisticated portfolio and price optimizations. We know the constant pricing pressure brand managers face to stay competitive in today’s market,” said Robin de Rooij, Revenue Management Specialist and Senior Director, SKIM.
“We saw a need to offer our pricing expertise to clients that may not have the time or budget to conduct a full conjoint pricing study. Traditional quick pricing solutions we see often don’t take into account context and can lead to sub-optimal pricing strategies. This weakness is something we’re trying to address better with our new solution. While SKIM Price Explorer won’t replace conjoint, it will help marketers make more confident pricing decisions more quickly than ever when introducing new products or concepts,” he added.
SKIM Price Explorer is an ideal pricing research solution for any industry where time is of the essence. For example, consumer brands launching new products, healthcare companies introducing new treatments or technology brands developing new innovations. It uses a proprietary and mobile-friendly process to deliver reliable pricing insights such as the optimal price point, cannibalization, demand and revenue predictions, as well as interaction with competitive products, consumer price perceptions and acceptable price ranges.
SKIM Price Explorer is available today in North America, Europe, Latin America and Asia. SKIM offers a complete suite of pricing and revenue management solutions including portfolio management, new product optimization, optimizing online subscription services, promotion effectiveness, competitive response, menu and bundle optimization. For more information, please contact us.