Brands can use the tool to find the optimal price for new products, while minimising cannibalisation and maximising revenue potential.

Robin de Rooij, revenue management specialist and senior director, Skim, said: “We know the constant pricing pressure brand managers face to stay competitive in today’s market. We saw a need to offer our pricing expertise to clients that may not have the time or budget to conduct a full conjoint pricing study. Traditional quick pricing solutions we see often don’t consider context and can lead to sub-optimal pricing strategies.”

Price Explorer is available in North America, Europe, Latin America and Asia.