Saturday, April 28, 2007

Optimizing prices

So does a store really set the best price for a product? A price that will attract those looking for quality as well as a low price. The price optimization software from DemandTec Inc is meant to do just that by analyzing variables such as sales history and competitors prices. Price-optimization software can boost retail profits by a few percentage points. In a lot of cases store managers are already using the system to increase prices, but unless you know exactly how high you can go, you're actually going to end up losing all of the sales entirely.

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