AUSTIN, Texas (Jan. 22, 2014) — Revionics Inc., a provider of end-to-end merchandise optimization solutions, has entered into a three-year agreement with TBC Corp.
The deal will provide TBC with Revionics' Price Optimization and Promotion Optimization programs.
According to the Revionics, Palm Beach Gardens, Fla.-based TBC chose the firm's life cycle pricing solutions "due in part to their success of enabling retailers to make better strategic and tactical decisions based on shopper and competitive analysis and respond quickly to dynamic marketplace conditions.
"Leveraging Revionics' advanced analytics and demand-based science, TBC will have the ability to continue to improve value-based pricing strategies and promotional offers that appeal to localized markets while driving increased sales and margins in the highly competitive automotive aftermarket industry."
Revionics President and CEO Marc Hafner said "to find success in today's price transparent, hyper-competitive world, retailers need to leverage big data to make data-driven pricing and promotion decisions that are relevant and compelling to their shoppers. We are honored to have TBC as a customer."
The company claims its Price and Promotion Optimization solutions "enable retailers to improve profits and competitiveness through fact-based analysis of customer behavior, incorporating the 'Voice of the Shopper' into a comprehensive set of demand signals that guide better pricing and promotion decisions" that sense and shape shopper demand at a local level.
Key advantages of the programs, according to Revionics, include the ability to:
• Systematically execute competitive positions and desired price image;
• Align price strategy with category and financial objectives;
• Price at a level that exploits local shopper behavior;
• Execute relevant and profitable promotions;
• Rapidly fine tune strategies as market conditions change; and
• Measure pricing and promotion effectiveness.
Revionics said its solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all platforms, including online, in-store, social media and mobile.
TBC is a wholesale supplier to independent regional tire retailers and distributors throughout the U.S., Canada and Mexico. Its wholesale group operates Carroll Tire, a regional tire wholesale distributor servicing independent tire dealers across the U.S. The company's retail group operates more than 2,700 franchised and company-operated tire and automotive service centers under the brands Tire Kingdom, Merchant's Tire & Auto Centers, NTB (National Tire & Battery), Big O Tires, Midas and SpeeDee Oil and Lube.
What is the best business practice?
|Treating your customers fairly.||
67% (36 votes)
|Offering the lowest price possible.||
2% (1 votes)
|Doing the job well, as quickly as possible.||
22% (12 votes)
|Staying ahead of technology.||
4% (2 votes)
|Be heavily involved in the community.||
6% (3 votes)
|Total votes: 54|