Pricing Review
Our Pricing Review combines proprietary analysis techniques such as our Hotseat IndexTM with our experience of interpretation and implementation across hundreds of organisations in the UK, Europe, USA and Australasia. As every organisation is unique, we share our findings and insights with our clients in order to explore the strategic options.
A Pricing Review includes: a pricing audit; business performance, performance sales and capacity analysis; customer behaviour analysis (at top level only of frequency, retention, party size, etc); discount analysis and competitor/comparator analysis. Subject to data and scope, a project may also include price zone analysis, sales over time and our Hotseat Index™, showing the demand for individual seats to allow fine-tuning of seating plans. The outputs include both changes to pricing and Revenue Management strategy and tactical recommendations around price metrics, concessions and sales promotions.
While all Pricing Reviews deliver recommendations that are tailored to an individual organisation, a Customised Pricing Review utilises bespoke combinations of data for analysis. Examples of customised analysis include a Hotseat IndexTM by customer segment, relating ticket price and time of sale and relating ticket price and donations. A customised Pricing Review requires a full ‘ticket level’ data extraction.
The Baker Richards Pricing Review delivers a measurable return on investment - in evaluated projects, never less than 200% return in the first year, after inflation. And because pricing strategy is structural, it continues to deliver additional income in subsequent years.
