Periscope by McKinsey, which offers a suite of Marketing & Sales Analytics Solutions to help companies achieve sustainable revenue growth, today announced that it has been included in Forrester’s ‘Now Tech: Pricing And Promotion, Q3 2019’ report, dated 15 July, 2019, by George Lawrie. The report provides a summary of the providers of Pricing & Promotion solutions in the market and looks at how this technology can help businesses increase margin and revenue.
According to the report; “You can use pricing and promotion solutions to increase revenue and margin by more effectively enforcing pricing policies and more sensitively matching price to subjective value. Additionally, these solutions help you to more effectively plan inventory and logistics by quantifying volume uplift from each price and promotion tactic and markdown inventory to clear space for the next season’s collection... Pricing and promotion solutions apply advanced analytics to help companies manage and optimize prices throughout the product life cycle, including initial pricing, as well as promotional and markdown or clearance pricing.”
The report also states that; “Hybrid solutions offer pricing ladders and price benchmarking, in addition to scientific or statistically based price and promotion optimization. These solutions also offer capabilities to manage direct or distributor sales forces, such as systematic propagation of correct prices for each sales territory and systematic management of pricing appeals and concessions. Vendors like Periscope By McKinsey fall in this category and appeal to CPG, retail, life science, and industrial manufacturing.”
Brian Elliott, Partner and Head of Innovation at Periscope by McKinsey, said; “As enterprises realize that they can engineer an ever greater competitive advantage and efficiency through properly implemented pricing and promotion strategies, it is more important than ever that they evaluate vendors more closely and search for the most sophisticated and user-friendly tools in the market. As such, this report is a crucial tool.”
He continued: “In order to actually drive incremental sales and margin over their baseline sales, organizations need to understand which lines are the right products to discount or promote, and which when promoted, will generate that significant return. Without the correct scrutiny, businesses could be pushing customers away from more profitable lines, or worse still combinations of lines, than they would otherwise be buying. As a leader in this space, with the most accurate forecasts and ability to integrate the impact of pricing, promotion, merchandising, and assortment decisions, we see the benefits that our clients gain from our solutions which address these issues, and that these solutions can be successfully applied to a broad range of industries and vertical markets.”
More information about the Forrester report can be found here.
About Periscope By McKinsey
Founded in 2007, the Periscope by McKinsey platform combines world-leading intellectual property, prescriptive analytics and cloud based tools with expert support and training. It’s a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing & Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (largely from McKinsey but also other partners) and best-in-class technology to enable transparency into Big Data, create actionable insights and new ways of working that drive lasting performance improvement, and typically sustain a 2-7% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions is comprised of: Marketing Solutions, Customer Experience Solutions, Category Solutions, B2C Pricing Solutions, B2B Pricing Solutions and Sales Solutions. These are complemented by ongoing client service and custom capability building programs.
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Media contact: Ascendant Communications, periscope@ascendcomms.net, +44 (0) 20 8334 8041 / +1 508 498 9300.