Research Engine Launches Price Optimisation Tool

In the UK, online self-service MR platform Research Engine has launched a 'Price Optimisation' tool, to help clients understand customer perception of product pricing across a category.

Set up last month by iCube Marketing founders Chris Horne and Mike Heisig, Research Engine offers access to a range of products for communications, testing, branding, pricing, innovation, customer experience, segmentation and behavioural science. The firm's new online self-completion tool is a hybrid of existing pricing methodologies, enabling users to benchmark their pricing decisions against those of their competitors. Users can plan for annual price adjustments, or understand changes in customers' acceptance of a price as opposed to what competitors are doing. It can also be used when major events have taken place in a category including new product launches, innovations, new legislation etc.

Heisig said: 'The new product means the cost of pricing research will collapse - but thankfully its value won't'.

Web site: www.researchengine.org .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.