Session will share real-world examples of how Price Optimization helps retailers leverage their big data to compete more profitably
AUSTIN, TX – (October 30, 2014) – Revionics, Inc., a leading global provider of End-to-End Merchandise Optimization solutions, announced today that one of their senior pricing experts, JJ Thorne, will be presenting to MBA students at the Vanderbilt Owen Graduate School of Management on Life Cycle Price Optimization. JJ will share insights on retail pricing strategies and tactics as well as provide real-world examples of how it is enabling retailers to make more precise data-driven, shopper-centric pricing decisions at the speed, scale and frequency required to keep pace with the market landscape. This presentation will be held during Associate Professor Kelly Haws’ Pricing Strategies class.
The details include:
- WHEN: Friday, October 31, 2014, 9:00 a.m. - 11:00 a.m. (CST)
- WHERE: The Vanderbilt Owen Graduate School of Management
- WHO: The speaker: Juan Jose (JJ) Thorne, Senior Pricing Strategist at Revionics
- WHAT: The presentation title: Retail Life Cycle Price Optimization (Management 568: Pricing Strategies | Kelly L. Haws, Associate Professor of Marketing for The Vanderbilt Owen Graduate School of Management)
Today’s retailers are battling intense competitive pressures as channel lines blur and more informed and technology-savvy shoppers demand better competitive prices. For retailers to find success in today’s price transparent world, they need to replace gut-feel pricing with optimization technologies that enable the execution of shopper-centric pricing strategies and tactics across the life of a product – every day price, promotion and markdown – tailored to a retailer’s channels. This session will discuss the basics of demand-based science – price elasticity and item/store level demand modeling, how optimization technology integrates science, business rules and constraints and business and financial strategies to derive price, promotion and markdown recommendations that drive to a retailer’s strategic and financial objectives and the typical financial benefits that are achieved.
“Reaching into the community to connect industry experts like JJ with our students is essential for a well-rounded education,” said Kelly Haws, Associate Professor of Marketing for The Vanderbilt Owen Graduate School of Management. “I’m thrilled that he is available to speak again this year as my students gained valuable technology and career insights from last year’s presentation.”
About Revionics, Inc.
Revionics delivers proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $150+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com.