Increase profit and loyalty with Engage3’s Price Image Management
Traditional price optimization solutions use price index to optimize prices which treats all items the same. Price Image identifies the items that shoppers use to drive price perception and optimizes price to drive both loyalty and margin
- What is my price image vs. competition?
- Which products should I invest in to improve my price image?
- How do I use everyday and promoted prices to maximize price image?
The Next Generation of Price Optimization
First Generation Price Optimization
- Reactive strategies following competition
- Heavy on rules that are hard to manage and understand
- Elasticity based and focused on short term profit from price increases
Engage3 Price Image Management
- Sets the right strategy your shoppers and your objectives
- True advanced AI and ML helps you manage ongoing price changes
- Optimizes short term financial goals and long term loyalty
Price Image Drivers
Did you know the average shopper builds their price perception of a retailer off of 5 items or less? With Engage3's Price Image Management you will know the specific items you need to win on to drive price perception with your shoppers. Outsmart the competition using Engage3's deep behavioral science and stop losing money investing on the wrong items.
Grow both profit and price perception
Using the Nobel Prize winning Efficient Frontier Theory we help you set prices that balance price perception and margin. You choose the strategy – growing profit, improving Price Image & sales, or a little of both.
Ongoing Machine Learning
True Machine Learning constantly monitors changing shopper behavior and competitive prices to ensure you stay one step ahead. With Engage3 Price Image Management you will always have the right prices to maximize growth and accurate forecasts to predict sales and profit.
Don’t just take our word for it
Featured Article
IDC 2019 MarketScape Report Positions Engage3 as a Leader in Price Optimization Applications
“Engage3 flips the price optimization paradigm on its head — optimizing price image, not prices, to achieve desired outcomes,” said Mark Thomason, co-author of the report and Research Director for Digital Business Models and Monetization at IDC. “With deep pricing–focused artificial intelligence and machine learning assets, Engage3 is focused on using science to maximize business outcomes constrained by shopper perception of pricing through predictive modeling of Price Image,” he added.
Client Case Study
Price Image Management
Investing in price and not seeing a result? Our Price Image Management solution uses deep AI to identify the items that matter to shoppers and optimizes price to improve your price perception and increase gross margins. See the benefit one top 10 national retailer realized:
+4
Sales Growth
+6
Market Share Gain
-66
Reduction in Price Investment
