Reliably predict consumer behavior to make better and more profitable price decisions
Through our proprietary Virtual Customer technology, the buynomics platform creates a multitude of Virtual Customers tailored to specific markets and industries, which have the same product preferences and buying behaviours as real world consumers. At your disposal, these Virtual Customers will react in real time to your suggested product portfolio changes and allow you to evaluate the effect of different scenarios without taking the risk in the real world.
How buynomics helps you optimize your pricing
Find out how your Virtual Customers will react to the effects of increasing or decreasing the base price of your products and find your optimal price points.
Stop using tedious and encumbersome Excel “tools” and imprecise methods like price elasticities and leverage buynomics’ >95% accurate forecasting for faster, better outcomes.
buynomics includes all relevant behavioral effects used in promotional activities. You can thus define the difference between a “2-for-1”-promotion and a “50%-off” one or how full-Dollar discounts are perceived compared to percentage discounts.
Leverage the power of big data and decades of pricing research to reflect behavioral pricing effects of promotions.
buynomics creates a holistic model of your market. This includes not only your own portfolio but also your competitors’.
Anticipate how consumers will react to new products in your market - be they from you or your competitors. Become more agile in responding to newly launched products.
Find out how buynomics has helped clients in your industry to optimize their prices with our proprietary Virtual Customers technology
Why buynomics is the best solution for price optimization
Once we have set up your Virtual Customers, there are no limits. Within minutes you can analyse any number of different scenarios in order to determine your next best move or to evaluate the effects of a competitor action and how to respond. No need for lengthy conjoint studies, consulting projects or outdated and inaccurate price elasticities.
Our platform not only considers the demand side given your own and competitors’ offerings, but also enables you to incorporate your internal and distribution cost structure to consider product-specific margin effects on your bottom line (see why conventional methods fail to deliver pricing value here).
Analytics are worth nothing if you cannot derive actionable next steps from them. The intuitive buynomics solution allows you to compare scenarios and iterate hypotheses seamlessly. Clear recommendations are given to optimize your desired KPIs.
buynomics’ unique technology leverages state-of-the-art machine learning and fundamentals of behavioral psychology. buynomics’ Virtual Customer technology reflects consumers’ behavior up to over 95% accurately - for better pricing at your fingertips.
Key product features
buynomics' Virtual Customer technology offers you various features for portfolio optimization:
Create and compare an infinite number of scenarios considering price changes, portfolio changes, promotions or any number of combinations thereof to determine your best strategic course of action.
Find the best combination of prices and products given different attributes in a few minutes using real time price optimization.
Simulate competitors’ actions and reactions to determine the effect on your own portfolio as well as the best strategic response.
Optimize core KPIs like profit, units, volume and revenue in a few clicks.
Gain deep analytical insights including elasticity- and demand curves for all products.
How your company benefits
Maximize profits across
Faster decision-making – Get insights in minutes instead of months
With R² up to >95% we are up to 10 times more accurate than legacy solutions
Do you want to know more about how buynomics can help
you make the right pricing decisions?