While pricing is the company’s most important profit lever, it is still largely made of simplistic heuristics, gut feelings and Excel. Frequently used pricing methods such as price elasticity, value pricing and competitive positioning only capture nuances of what matters to get pricing right. We don’t believe that this should be the future of pricing.
Therefore, we founded buynomics and developed a technology that makes full use of recent advances in large-scale computer simulations, big data analyses and artificial intelligence. The core of our approach is to generate virtual customers from available data who behave just like their real-life counterparts. These virtual customers allow our clients to predict more precisely how price and product choices affect their sales and pinpoint the best pricing strategy to optimize revenues or profits. As a true SaaS solution, buynomics allows you to economically price large portfolios with the quality, dedication and effort, currently only available for high-value products.
Please read our initial blog for an extended version for why we started buynomics.
Before buynomics, Ingo was a Senior Director with Simon-Kucher & Partners, a global leader in pricing. He holds a PhD in Management from the University of Cologne and Masters degrees in Management and Mathematics. He was a PostDoc at the University of Oxford and published in the Strategic Management Journal.
Before starting buynomics, Sebastian was a Director with Simon-Kucher & Partners where he helped leading international companies to improve their pricing and product offering. Sebastian holds a PhD in Physics from the University of Heidelberg and Masters degrees in Physics and Economics.
Emilio is an active investor and former CEO/founder of AI-business Leverton. Before, he worked for Goldman Sachs and Houlihan Lokey both in London. He holds a PhD from HHL Leipzig Graduate School of Management and was a PostDoc at the University of Oxford.
We bring Pricing into the 21st Century!
We know your challenges and built the solution.