Reliably predict consumer behavior to make better and more profitable product 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 product portfolio
buynomics helps you evaluate the importance of new product value drivers and/or attributes and how these fit into your product portfolio.
Anticipate how the launch of a new product will affect your overall product portfolio.
buynomics allows you to optimize your product offering by evaluating any combination of value drivers; be it the weight of a yoghurt or the data volume of a mobile phone contract. buynomics can simulate their specific attributes and how Virtual Customers would react to changes thereof. It determines how consumers react to a 100g-pack size versus a 120g one or when adding 5GB to your premium plan.
This enables you to optimize your product offering to maximise revenue, increase profit or achieve any other strategic goal you might have in mind.
buynomics enables you to simulate infinite product combinations for your portfolio to determine your optimal product mix.
Did you ever ask yourself if your current product portfolio is too granular or too scarce? Stop the guesswork and make better, more informed decisions with buynomics..
Find out how buynomics has helped clients in your industry to optimize their portfolio with our proprietary Virtual Customers technology
Why buynomics is the best solution for product and category managers
Decisions based on gut feeling are no longer necessary with the "Virtual Customer" technology. Design your products given consumer preferences and optimize consumer satisfaction as well as your long-term KPIs.
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 No need for lengthy conjoint studies, consulting projects or outdated and inaccurate price elasticities.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.
Key product features
buynomics' Virtual Customer technology offers you various features for product optimization:
Create and compare an infinite number of scenarios considering new product launches or product changes in your own or competitors’ portfolios
Find the best features and attributes for your products in a few minutes using real time product optimization
Simulate competitors’ actions and reactions to determine the effect on your own products 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 optimize your product management?
Want to learn more? Check out our buynomics insights!