How much will people pay?
What is your optimal market clearing price point? What is too expensive or what is too cheap? What is the best price point for your product/service? Ensuring you have the correct price point can be a complicated and vital decision for any business.
Get it right and you are set up to correctly leverage your investment in getting your products/services to market and driving demand. Get it wrong and you will struggle to realise the true potential of your hard work in the market place.
How It Works
We do not have a fixed off the shelf solution for pricing at Ignite, instead we work with you to diagnose the specific pricing issues before deciding on the ideal solution. Some of the objectives we have come across recently – maximise capital investment return, maximise value/volume, increase margin retained within the business, break into new segments and markets.
In addition to identifying the optimal pricing point with statistical rigour, we also provide a strategic simulator. This simulator allows for scenario analysis. With a simple to use and dynamic interface, you can change many variables which impact in the market - your cost of production, market demand and price point - to see how to flex these areas and how they will impact the performance of your business.
Through a virtual Profit & Loss account you will be able to see the impact on your business of any scenarios at the click of a button. We will also advise on the economic principles of price elasticity of demand, market clearing price points and maximum utility of pricing to ensure that your business has the best strategy for pricing.