|Simply put, Penfield makes analytics Work.|
Retail Pricing Analytics
Retailers require toolsets and approaches specific to their own unique product and competitive landscape. For more information on our Retail Pricing practice, click here.
Penfield develops and executes marketing accountability programs including:
- Marketing Mix Modeling: The Four Key Questions to Marketing ROI
- Circular Optimization
- Simulation, Optimization, and Forecasting
- Feature SKU Measurement and Optimization
Putting segmentation to work inside a retailer:
- Guiding Store Locations, Formats, and Assortments
- Customer Penetration
- Shopper Conversion
With the explosion of online advertising tools like search and banner across sites and executions, it can be hard for businesses to capitalize on the opportunity. Penfield provides:
- "First Step" advisory, leveraging benchmarks and past experience to find the low-hanging fruit.
- Ongoing testing and analysis to find the optimal point of driving the highest value with the lowest investment.
- Targeting techniques to apply digital spend to specific types of customers based upon search behavior.
Retail stores are no longer being looked at as a collection of individual business units, each with an independent sales and margin target. Penfield brings retailers real-world experience with category management, facilitating strategies to define category role and intent through a blend of empirical measurement and strategy. Once plans are determined, Penfield can assist with the change management to soften the impact of the sometimes drastic changes.