In this article, we’ll show you how to use the gfknewron Predict Pricing Page.
The Pricing Product page allows you to review performance for the whole market, take a closer look at specific models and their competitors, review priority Promotion KPIs, analyze trends vs previous period or same period as last week last same week last year or previous week and identify patterns to gain a deeper understanding of what’s driving performance.
Let’s get started.
1. Navigate to the Product
Once you’ve logged into the gfknewron Predict platform, click on ‘Pricing Products’ in the left-hand side menu to navigate to the Product leaderboard.
Your Pricing Product page will look like this:
2. Configure your Pricing Product view
You’re able to configure your Pricing Product view to unlock data and insights based on your brand(s), competitors, time frames, channels of interest. Decide what is more relevant for to analyse the change - absolute change or percentage change and easily toggle between them.
2.1 Select Brands and competitors that are most relevant to you
The default brand is your own brand(s) –. Select the competitors that are most relevant to you.
2.2. Select focus timeframe and comparison period
First, use the top menu to set a focus timeframe. You have the option to set your focus month and the comparison period of your choice so either previous period or same period last year.
2.3 Select channels of interest
Drill down into channels of interest by applying the channel filter.
You then see the Price Erosion and other KPIs performance for this channel .
On top you still can see on top of this specific channel performance the total Panelmarket, however currently only for basic KPIs.
3. Analyse product data according to KPIs or features
To configure the Pricing product data according to KPIs that matter most to you, click on the orange highlighted ‘Customise” button situated at the top right above the table.
In the customize table window you can then decide which features and KPIs will be displayed. On top of the KPIs you know from Market you can also see the specific Predict Pricing KPIs (ticked in screenshot below) to get granular product performance insights.
- Price Erosion:
Definition: Price erosion is the decline in the average selling price of products over a specified period.
Context: This metric uncovers the long-term price trend underlying month-by-month ASP movements and is crucial for understanding price dynamics and the devaluation of brands and products over time. It provides insight into how product values decrease, reflecting broader market and economic forces that can influence pricing strategies and brand positioning.
Example: A price erosion of -4% from January to March suggests that prices fell by an average of 2% each month. - Product Launch: This is the impact of recently launched Products between the selected periods in the time frame box labelled with yes and no.
- Product phase out: This is the impact of products which do not have sales of at least three periods . At the end of the product life cycle there are usually very marginal and volatile sells out to the consumer.
- Revenue: Sales revenue (in your selected currency) for the model.
- Units: Total units of the model sold.
- Revenue/units share : Revenue/units sold for the model shown as a percentage of total revenue/units sold of all models.
- Average Price: A weighted average sale price (in your selected currency) for the model.
- Selling shops: Total stores who sold at least one unit of the product in the focus period.
- Average (Quantity) units per shop : The total units sold for the model divided by the number of selling shops for the model.
4. Export your data
Exporting data from the Pricing Product page is easy. Simply select Export, then choose to download your product analysis data as .xlsx file.