Data analytics is essential for effective pricing strategies. My top 3 methods include: 1. Benchmarking Insights: Use historical data of similar products to set competitive benchmarks and identify pricing innovation opportunities. 2. Customer Segmentation: Tailor prices based on demographics and purchasing behaviors to match perceived value, enhancing profitability. 3. Iterative Testing: Apply A/B testing to refine strategies based on market feedback, ensuring alignment with financial goals and consumer preferences. These 3 techniques improve decision-making and market responsiveness, driving growth.

Launching a new product with pricing strategy should be combined with the potential incorporation of differentiated characteristics like novelty, IP/IPR Strategy with science backed evidence to make the product unique in comparsion to existing marketed products. A novel product with proper pricing strategy has potential of better successful commercialization in comparison to launching a conventional new product.

Data analytics can greatly improve your pricing strategy in several ways 1. Market Analysis 2. Customer Segmentation 3. Demand Forecasting 4. Price Elasticity Analysis 5. A/B Testing 6. Dynamic Pricing 7. Customer Feedback 8. Profitability Analysis By applying these strategies, you can create a more effective pricing approach that enhances sales and profitability.

La analítica de datos es una herramienta de análisis muy importante porque nos permite entender como se comporta el mercado de un producto en sus diferentes variables y las estrategias de los competidores, pero considero que debiera utilizarse en la fase final de la definición de la estrategia de marketing de un nuevo producto. Es de la mayor importancia definir con claridad la propuesta de valor de nuestro producto, ventajas frente a otros competidores, como soluciona las necesidades de los clientes y que lo hace diferente de otras opciones. Cuantificar estos beneficios nos permite valorizar nuestra marca frente a otras opciones disponibles e incluirla en la analítica de datos disponible para definir nuestra política de precios .