An intelligent pricing model takes into account more than market intuitions. It considers the degree of demand, supply, and product/service scope down to the T as parameters before determining the price. Therefore, it’s imperative for enterprises, regardless of their scale to adopt a holistic intelligent pricing solution that customarily aligns itself to the company and the market dynamics it faces. An ideal pricing model turns to analytics to make a decisive choice by considering a host of factors such as reference prices, cost prices, sales prices, forecasts, expected demand, market intel, and wholesale acquisition costs to arrive at a set of actionable insights. While arriving at these insights is one side of the coin, determining what insights to go with is another. This paper talks about how both work in detail.
