Pricimetrics is the Most Advanced, Easiest to Use Predictive Pricing Platform You Can Find
Pricimetrics Max will find the profit maximizing price for all of your SKUs. Whether you’re a small business owner or a pricing professional at a large company, Pricimetrics Max will help you streamline your pricing processes, save you time, and make you more profitable.
Are you ready to take your pricing strategy to the next level? Contact us today for a free audit of your prices, and you can be on the road to increased revenue and profits in days.
Pricimetrics does the grunt work analyzing the data looking for patterns and anomalies.
Pricimetrics analyzes your company’s transactions looking for patterns. It will try a large variety of approaches to see which works best under current market conditions.
Add constraints to make sure that your prices never go above your competition or add constraints to prevent your price from having a negative impact on profit.
Like the best human experts, Pricimetrics can also tell you how it reached its conclusions and why. You can even do “what if” scenarios and Pricimetrics will forecast outcomes at different prices.
Maximize Profits With Effective Pricing
Using Pricimetrics Max Is As Easy As 1, 2, 3!
Upload Transaction data
Import your transaction data into Pricimetrics Max. Sit back and relax as it automatically calculates the profit maximizing price for each product.
Sip some coffee
Set your prices
Accept or reject any of Pricimetrics Max’s recommendations.
If there’s a price recommendation you’re not comfortable with, Pricimetrics Max will let you see what happens at other prices.
Easy-to-use UI that you can use out of the box
Plug-and-play from a wide variety of variables and data
See how your profits change at a glance
See how Pricimetrics calculated its conclusions
From The Meat Department To The Produce Aisle…
Anyone Can Price With Certainty
Increase your profits
Designed to increase your profits and reduce your team’s workload.
No Black Box Effect
Pricimetrics thinks and learns as a trained pricing expert would, but at the speed of software.
Rapid & Easy Implementation
You’ll notice an increase in your ROI within days or weeks, not months.
Pricimetrics can consider all sorts of data that might be available, including sales, advertising, competitor pricing, and even weather information.
Pricimetrics is designed to be easy to understand and provide useful and actionable recommendations no matter how comfortable you are with pricing, or with data.
BUILT FOR RETAILERS AND WHOLESALERS
Pricimetrics is ideal for companies with a lot of transactions. Great for manufacturers, wholesalers, retailers, and distributors.
Stop wasting time. Stop guesstimating your prices.
Stop worrying about inflation. Stop stressing about factors outside of your control.
Win back your time and price with confidence.
Do you want to save time and make more money?
The Definitive Guide to Product Pricing
Not sure if Pricimetrics Max is right for you? We welcome you to try out some of the techniques built into the software in our Definitive Guide to Product Pricing.
Our team boasts more than 100 years of relevant pricing experience, and this pricing guide is a distillation of everything we’ve used to help Fortune 500 companies and MNCs over the span of multiple decades.
Learn how to maximize your profit through effective product pricing with this practical guide. This guide is everything you need to know whether you manage 100 SKUs or 150,000. It’s absolutely free, whether you want to use Pricimetrics Max or not.
And If You Want To Read More About Our Insights Into Pricing, visit our blog !
My name is Mike Kimel and I’m the CEO of Pricimetrics Max. I’m excited to be able to share my thoughts and insights into the economy and product pricing. I hope you’ll be able to glean value, entertainment, and inspiration from my experiences so that you and your business may find success.
Mike Kimel, CEO
Have any questions? Contact us , Here
OR Scroll down to see if we answer it in our FAQ
Pricimetrics Max is software which utilizes a company’s transaction history and other data to identify the profit maximizing price for every item. It is designed to approach problems in the same way as an experienced human pricer. It looks for patterns in the data to identify and quantify the relationship between price, sales, and profit. Being software, Pricimetrics is infinitely faster than any person. But like any good human pricer, Pricimetrics can provide an easy to understand, intuitive explanation for why and how it makes its pricing recommendations.
Pricimetrics Max is designed to use any data available, should it find that data to be useful. At a minimum, it needs price, sales volume, and cost information for each item it analyzes. However, if additional information, such as competitor prices, or marketing campaign, is available, Pricimetrics Max can incorporate that data into its analysis, and if it determines that the additional data can help make its guidance more accurate, it will do so.
While we have utmost respect for products made by our competitors, Pricimetrics Max is designed very, very differently. Artificial Intelligence and Machine Learning tools are notorious for having a “Black Box” problem, where the mechanism is so opaque its results are often not understood even by the creators. This makes it very hard to tell when a system is going off the rails. Pricimetrics Max, on the other hand, has been designed from the ground up to take a conscious and cautious approach to AI and ML. It has been trained to solve pricing problems the same way as a human pricing expert would, albeit one which is lightning fast and isn’t bogged down by boredom, having to attend meetings, or other human frailties. It explains the results in a transparent manner.
No. Pricimetrics will operate just fine with data updated through a portal or email.
Simply stated, the goal of pricing is to capture value. When used as a strategic lever, pricing plays a key role in helping companies reach their objectives. In the long term this means maximizing long term profits. In the short term, it may sometimes mean achievement of tactical goals such as gaining market share or rapid unloading of inventory.
Price Optimization is a process of finding the price that maximizes a company’s objectives. Simply put, it is the ideal price that best achieves a company’s current goals within relevant constraints. Whether it be profit maximization, gaining market share or something else.
Dynamic pricing means changing prices regularly to conform with changes in market conditions. The term is often used to describe highly variable pricing, which changes multiple times a day or may even approach real-time pricing.
Market conditions change all the time; a price that was right last week could result in lost sales this week. To the extent feasible, prices should be revisited on a regular basis, and as frequently as market conditions change. For many businesses, that’s once a week or so. For other products or services, that might be several times a day, to monthly, quarterly or annually. It is generally dependent on the industry and distribution platforms and channels.
All too often, companies put too much emphasis on competition’s prices for their own pricing decisions. Pricing your own products and services based on competitors means one’s pricing is as good or bad as the competition. So if the competition is mispricing, so are you. Moreover the price that fits well with a competitor’s strategy might be a total mismatch for your own.
There is another risk to competition-based pricing. It tends to engender more of the same, engaging companies in an endless cycle of price matching or price cutting, to the detriment of the company and industry interests.
Value Based Pricing typically refers to the practice of pricing a product or service to correlate with its perceived value to customers. Factors that affect perceived value include its features, marketing and advertising, and the price of alternatives. Even the weather, day of the week, and fads can affect perceptions of value. Although useful in a variety of situations, it is more appropriate for products and services whose perceived value is easy to approximate and doesn’t change frequently.
Unless price covers the costs of producing, a company loses money with each additional sale. In certain cases, such as the sale of low priced products (“loss-leaders”), losing money this way may be appropriate, if the loss leader boosts the sale of higher margin products. As a general rule sales price must be higher than cost price.
However, it is also possible to put too much emphasis on costs. In fact, around 30-40% of companies set prices as a fixed markup on costs. This practice, known as “cost-plus” pricing, is required in certain situations ( due to regulatory requirements). Otherwise in most cases, cost based pricing is a naive approach that leaves money on the table.