PRICING AND PROMOTION STRATEGY

What We Do > Business Optimization > Pricing and Promotion Strategy

Are we charging too much? Too little? Do we even have a pricing strategy?

The Integrated Insight Difference

Consumer-First Mentality

We lead with the consumer and where they place value, taking calculated risks by leveraging consumer insights and research to inform decisions.

Holistic Strategies

We develop data-driven pricing and promotional strategies that encompass the business as a whole versus silos of products or services.

The Marketing of Pricing

We do more than just price products and services.  We provide specific instruction on value messaging, how to display your pricing structure on the web or in-store, and how to train your team to upsell.

Track Record of Results

We measure both website conversion and transaction sales results to understand immediate impacts and make adjustments where needed. Our pricing engagements routinely deliver a 10% to 20% improvement in net income, or more.

Our Approach

Discovery

We examine historic data and speak with key stakeholders to understand past performance, current pricing structure, channel strategy, and recent price changes that have impacted the business.

Analysis

Our team works with the data to discover trends and opportunities. In addition, we assess your competitors (both direct and indirect), and understand their strategy.

Delivery

We use our expertise to build a custom pricing strategy, develop a pro forma for the expected incremental value, and deliver a detailed plan for execution.

Featured Case Studies

Slide national restaurant association research integrated insight National Restaurant Association - Leveraging Market Position to Improve Pricing and Yield PRICING and Promotion Strategy The National Restaurant Association engaged Integrated Insight to holistically examine the association for revenue opportunity. Three phases of work were completed: Pricing for the Chicago Trade show, both participants and exhibitors; training and certification through the ServSafe, Food Handler, and Food Safety courses; and membership pricing. Recommendations called for higher pricing, packaging and bundling of key products and services, and better articulation of the price-value proposition versus competitor products.

Slide Legoland Discovery Centers - Unified Pricing Strategy, Localized Price Points PRICING and Promotion Strategy Merlin Entertainments manages Legoland Discovery Centers in seven countries and engaged Integrated Insight to develop a pricing strategy for properties in The United States and Canada. The recommended strategy was designed to be consistent in its structure across the portfolio, but allow individual sites to localize price points based on market conditions. The strategy streamlined ticket selections and made pricing more transparent while positioning options in a way that would encourage upsell. Strong savings messages embedded in the structure were designed to incent buy-up to combination tickets and annual pass products. The strategy also included recommendations on group, trade, and promotional pricing. Slide Halstrom Academy - Higher Yields Through Value-Based Pricing PRICING and Promotion Strategy Halstrom Academy operates campuses throughout California, serving middle and high school age students in grades 6-12 from the United States and other countries. Halstrom sets itself apart from other private or public schools through one-to-one instructor to student learning. The management team engaged Integrated Insight to develop a pricing strategy that would take into account where parents place value and provide incentive for enrollment at Halstrom throughout their middle and high school years. The new, simplified strategy leverages price and product stratification and eliminates nuisance charges, while still being competitive in the private education space in Southern California. Slide Disney's "Magic Your Way" Pricing Strategy PRICING and Promotion Strategy The founders of Integrated Insight established Walt Disney World’s pricing strategy, called “Magic Your Way,” the most sweeping change in pricing strategy in Walt Disney Company history. The holistic strategy pulled guests into optimal behavior with the ability to customize their vacation, leveraging the strategic application of non-core assets such as F&B packages and introducing round trip transportation to and from the airport to improve the guest experience and capture higher spend. The strategy resulted in 20% increase in annual operating income in year one with year after year revenue gains in high single digits.

When To Focus On Pricing

  • You haven’t raised prices or adjusted your strategy in many years.
  • You are doing “cost plus” pricing.
  • You are overly focused on an entry price and have little stratification within the pricing structure.
  • You follow your competitors.
  • You treat your customers as one size fits all.
  • You have few complaints about pricing, but your sales team balks at raising price.

From the Experts

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Featured Insights

Why Focus on Pricing?

It is important to focus on pricing to achieve profitability. Increasing revenue will help alleviate some of the cost pain for business owners.

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Featured Insights

Pricing Strategies to Focus on During the Coronavirus Pandemic

In times of crisis, there is risk of making short term pricing decisions that will have long term impacts.

discount article

Featured Insights

The Temptation and Risk of Discounting

Many businesses are grappling with the need to discount to generate demand. While it may seem like the right thing to do, will it really help generate profitable demand?

Need help with pricing and promotion strategy?

Schedule a free consultation to discuss your business needs.

Slide About Integrated Insight, Inc. helps organizations out-behave the competition with consumer insights and robust analytics. What We Do New Business Strategy Business Optimization Research & Consumer Insights Who We Are Our Team Testimonials Contact phone (352) 988-3490 email info@integratedinsight.com Connect LINKEDIN FACEBOOK INSTAGRAM