A Wine and Spirits Manufacturer Witnessed a Drastic Improvement in Sales Performance with the Help of Quantzig’s Pricing Analytics Solution | Download the Complete Case Study for More Insights
LONDON--(BUSINESS WIRE)--Apr 2, 2019--A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest pricing analytics engagement for a leading player in the alcoholic beverages segment. During the course of this engagement our pricing analytics experts adopted a comprehensive three-pronged approach to help the client tackle their challenges. As a result, the client witnessed drastic improvements in sales and gained complete visibility of the product prices, discounts, sales, and distributor segments.
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Pricing Analytics Engagement for a Leading Wine and Spirits Manufacturer (Graphic: Business Wire)
The alcoholic beverages industry is a highly fragmented segment that is driven by digitally empowered customer groups with wafer-thin brand loyalties. In such a scenario, pricing analytics turns out to be ‘the silver bullet’ for businesses looking at establishing themselves on a global scale. This is of utmost importance as the lack of a good pricing strategy can create unique challenges and curtail business outcomes across various segments within the alcoholic beverages industry.
The Business Problem: The client is a well-known wine and spirits manufacturer based out of the United States. They wanted to develop a more precise pricing and promotion strategy by extracting meaningful insights from their customer, procurement, and manufacturing data. To do so, the client approached Quantzig to leverage its pricing analytics expertise and develop a more structured approach to pricing and promotions aimed at enhancing the overall sales performance.
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“The changing market trends and shifts in customer demands are not just posing major challenges for players in the alcoholic beverages segment but are also bringing about major disruptions on a global scale,” says a pricing analytics expert from Quantzig.
The Solution Offered : The pricing analytics experts at Quantzig adopted a three-pronged approach to extract the desired insights for this engagement. The initial phase revolved around the creation of a data dictionary for the customer, procurement, pricing, and supply chain data. This was followed by the integration of the datasets and application of data clustering methods to analyze the gathered information using real-time dashboards.
This case study is a typical example of how pricing analytics is bringing about measurable improvements across industries. Download the complete case study for comprehensive insights.
Quantzig’s pricing analytics solutions helped the client to:
- Identify profit opportunities across five major target regions
- Set an optimal pricing strategy and bring about measurable improvements in sales performance
- Request a free demo to know how pricing analytics can help you gain a competitive advantage.
Quantzig’s pricing analytics solutions offered predictive insights on:
- Analyzing promotion responses based on sales volume and promotion costs
- Quantifying price elasticity and redesigning the pricing strategy
- Don’t you feel a good pricing strategy is a non-negotiable requirement for players across industries? Request for more information now!
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit:https://www.quantzig.com/request-for-proposal
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INDUSTRY KEYWORD: RETAIL WINE & SPIRITS
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PUB: 04/02/2019 10:55 AM/DISC: 04/02/2019 10:55 AM