Brand View launches Price Manager – helping retailers manage pricing policies

Timely launch of technology will help supermarkets easily set and maintain a consistent pricing policy in light of recent political and consumer pressure to ensure fair pricing.

Brand View, the leading provider of real-time price and promotion tracking, has launched the Brand View Price Manager – an innovative tool enabling retailers to define and manage pricing rules across all channels of their business.

In a departure from the current ‘black box’ approach which typically offers Buyers little or no autonomy by managing prices in isolation of real-time competitor data, Brand View’s Price Manager offers retailers unprecedented visibility and control over their price management strategy.

Using a web-based Software as a Service (SaaS) approach, Brand View’s Price Manager enables retailers to closely define pricing rules across each channel of their business, then use the system to check each product’s price in real-time to ensure it complies with the defined rules. Products that fail to meet these rules are immediately flagged to the relevant Buyer – eliminating costly bureaucracy associated with current methods.

The launch of Brand View’s latest technology comes amid increased scrutiny on food retailers from consumers, broadcasters and politicians, to ensure fair, open and consistent pricing policies – highlighted in a recent Private Member’s Bill by Labour MP John Denham.

Chris Thomas, founder of Brand View, believes the launch of the Price Manager will help retailers avoid unintended pricing issues. He said: ”It’s often the case that retailers, especially the large supermarkets, find themselves facing criticism for pricing issues through no major fault of their own. The scale of these retail operations and the lack of intuitive technology to monitor, manage and react quickly has certainly been a major factor.

“The Brand View Price Manager allows pricing teams to set rules across the business, but crucially allows them to easily amend those rules or change tolerances at the click of a button. This allows users to react immediately, not only to competitor pricing, but to any discrepancies highlighted by consumers or the media – a vast improvement on today’s standards where it can take days to make a change.”

All changes made within Brand View’s Price Manager are logged and audited, giving retailers the ability to measure and monitor changes in real-time, ensuring they adhere to compliance agreements and discover why certain price changes may be ‘rejected’ by a Buyer.

The Price Manager also allows the integration of sales data to offer instant information on the revenue effect of price changes. These figures are automatically calculated and help the Buyer to understand which price changes will have the biggest effect on the bottom line.

Daniel Burton, founder of Brand View, said: “Our clients are extremely excited about this radical new approach to price management – it’s a move away from current black box pricing solutions and allows retailers to eliminate wasteful bureaucracy and base decisions on facts derived from real-time competitor data.”

 

 

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