SKIM Unveils Quick Pricing Tool

Decision-making behaviour specialist SKIM has launched Price Explorer, to help clients make 'quick and confident' decisions on pricing new products.

The tool, described as 'proprietary and mobile-friendly', combines the firm's in-depth analytical know-how with consideration of the impact of existing product portfolio and the competitive environment, and promises to help users 'uncover the optimal price for new products, while minimizing cannibalization and maximizing revenue potential'.

Results are promised in 5-10 days, making the solution 'ideal' for 'consumer brands launching new products, healthcare companies introducing new treatments or technology brands developing new innovations', according to the firm. SKIM Price Explorer is available in the Americas, Europe and Asia, and forms part of the company's suite of pricing and revenue management solutions.

Robin de Rooij (pictured), Revenue Management Specialist and Senior Director, says SKIM's experts already team up 'every day' with clients on pricing research, and comments: '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'.

SKIM has ten offices in Europe, the US, Latin America and Asia, and more than 150 staff. The company is online at www.skimgroup.com .

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