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Price Edge Awarded Grant for Artificial Intelligence in Value Based Pricing by Sweden’s Government Agency for Innovation

April 2, 2019 in News

Vinnova awards Price Edge 1 Million SEK – to develop an artificial intelligence solution for value-based pricing, targeted at manufacturing companies.

Price Edge Solutions AB, a fast-growing Price Optimization & Management (PO&M) software provider, today announced it is being awarded a grant of 1 Million SEK to integrate Artificial Intelligence (AI) technologies into its pricing software for value-based pricing – replacing what has previously been done manually by management consultants.  The grant is being awarded by Vinnova, Sweden’s government agency focused on research and innovation.

By leveraging AI, this new product will make value-based pricing available for small- to medium sized manufacturing companies, as the product will be able to replace the heavy and manual analytical work that is otherwise required. In addition, the product will also make it much more efficient and cheaper to maintain such price logic over time.

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Last Month’s Best Pricing Reads – March 2018

April 1, 2019 in Pricing Monthly

Every month the Price Edge team put together a curated list of all the must-read pricing articles picked-up from a variety of trusted online sources.

If you are curious and looking to learn more about pricing, you should be definitively read the Pricing Monthly.

Here is a list of last month’s best pricing reads:

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Meet PriceEdge at eTail Asia 2019!

February 21, 2019 in News

PriceEdge is proud to be one of this year’s sponsors at eTail Asia, next month in Singapore. Yann le Roux from our Singapore office will manage our booth and make sure all interested will learn about our latest developments in E-commerce pricing. Make sure to ask about our automated AI-engine PriceEdge Optimize, that only requires you to embed a script on your web store to start working its pricing magic for you.

Last Month’s Best Pricing Reads – January 2018

February 3, 2019 in Pricing Monthly

Every month the Price Edge team put together a curated list of all the must-read pricing articles picked-up from a variety of trusted online sources.

If you are curious and looking to learn more about pricing, you should be definitively read the Pricing Monthly.

Pricing News January

Here is a list of last month’s best pricing reads:

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Last Month’s Best Pricing Reads – November 2018

December 12, 2018 in Pricing Monthly

Every month the Price Edge team put together a curated list of all the must-read pricing articles picked-up from a variety of trusted online sources.

If you are curious and looking to learn more about pricing, you should be definitively read the Pricing Monthly.

pricing strategy news

Here is a list of last month’s best pricing reads:

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How do retailers price their products?

November 30, 2018 in Q&A

In my experience retailers have rather simple pricing methodologies and most of them use variants of cost+ (cost+ = taking your cost and adding a standard margin based on group/category). They manage their pricing in Excel or have built in the pricing calculation into their ERP. Few of them actually uses a price optimization tool, though it’s increasing in popularity in the last few years, especially with the growing competition from online retailers.

To dig deeper, I think a first good step is dividing the retailers into two major sub-groups: own brand sellers (H&M, IKEA, J Crew, Zara) and re-sellers (Media Markt, Bauhaus, Wall-Mart, Home-depot, Carrefour).

retail pricing priceedge

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My Top 4 Mistakes in Aftermarket Pricing. Save Yourself Some Pain & Don’t Make Them Yourself.

November 26, 2018 in Blog

Today I would like to share some of the mistakes I have made during my years in aftermarket pricing. I hope that by reading this material, you will be able to avoid as many of them as possible. I guess I’m trying to write the text which would have helped me when I did my first aftermarket pricing project about ten years ago.

To keep it simple, I decided to make a list of criteria which I think are important if a pricing strategy is to last for a long time. I will zoom into attribute-based pricing strategies. The reason is that those usually give the best return but are also the most difficult to manage.

Before we get into this, just a short reminder that when I write “attribute-based pricing strategies”, I refer to price logic, where physical attributes, such as weight, length, power, brand, etc. are used to set the price. In a nutshell, you create groups of similar parts, and in each group you define which attributes should be used. Then you create the price equation based on those attributes. So here it is, the list of what you should try to avoid if you want your pricing strategy to pass the test of time. My hope is that you will be able to avoid most of these mistakes. Enjoy 😊

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