We compiled Engage3’s most popular blog postings of 2019 ranked by average number of hits per day. Below is the second half of the list of our top ranked blogs. You can go to Part 1 of this blog here. Learn about emerging trends in strategic pricing, KVI lists, and the challenges of modern competitive pricing.
5. Price Optimization 2.0: The Efficient Frontier in Strategic Pricing
In 1990, Harry Markowitz won the Nobel Prize in Economics for his development of modern portfolio theory that manages the strategic tradeoff between risk and return in a financial portfolio. Today, Engage3 is applying this same technology to help retailers and brands strategically manage the risk (price image) and return (gross profits) for their product portfolios. Ken Ouimet explains how retailers can balance their price image and their profitability in this video.
4. CVS MinuteClinic: A Review
MinuteClinic is CVS’ project to provide healthcare services to more Americans. These clinics are in a large number of Target and CVS stores, offering customers a convenient and inexpensive resource for primary care. We visited a Sacramento-area MinuteClinic to see first-hand how retailers can improve their customers’ health and well-being.
3. Known Value Items – Drivers of Price Image
Traditionally, retailers will evaluate their KVIs once a year. But the market is changing faster today than it’s ever changed before, requiring more dynamic KVIs. Watch Tim explain why the analysis needs to come down to the store and shopper levels, with items coming in and out of the KVI lists.
2. Falling Prices Store in Sacramento: A Review
The latest store turning heads in Northern California isn’t known for its purchase-tracking cameras or smart shelf tags—it’s drawing crowds to its particle board bins. Engage3 visited Falling Prices for a full report on what the discounter has to offer.
1. The 7 Challenges of Modern Competitive Pricing
Strategic pricing is at the heart of retail competition. It has famously driven the business decisions of Amazon, Walmart, Lidl and Aldi that we see all over the news. But in order to develop more effective pricing strategies, retailers need a different approach to competitive pricing, one that addresses the historical challenges of competitive shop programs–here are the top 7 challenges.
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