Following the review, we worked alongside our client to create a set of hypotheses on how they could enhance their pricing practices, marketing effectiveness and revenue management.
These were validated with a consumer study across several core markets. At the same time, we analyzed their transaction data to understand the revenue impact of the different potential approaches.
The insights from this work allowed us to develop pricing and marketing initiatives to grow market share and revenues, including a new ticket architecture, marketing strategy and pricing playbook.
We also created two fully customized dynamic pricing concepts that fit our client’s needs and business model. With their support, we translated our agreed concepts into a customized software engine incorporated into their data warehouse.
This went hand-in-hand with establishing a revenue management centre of excellence to support the development of new solutions and guidelines.