What is Pricing Optimization Software?
Pricing Optimization Software is used to help organizations determine the optimal price for a product, service, or asset based on several factors relevant to it.
Price optimization tools use several statistical techniques to obtain accurate estimates of customers willingness to pay and predicts buyer response at a granular, segmented level.
Price optimization solutions should provide list pricing that maximizes objectives within the context of not only willingness to pay, but with respect to matters related to capacity constraints (i.e., cash flow, support staff, warehouse space), business rules, and internal strategic goals.
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