Kissimmee, Florida, United States: Golf Datatech LLC has introduced a proprietary golf industry Predictive Pricing & Demand Platform, powered by Atenga Insights.

The new platform, which was born of an alliance between Golf Datatech and Sweden-based Atenga Insights, a leader in global pricing research, provides golf companies, in both the US and internationally, with AI-powered, predictive pricing research that can be completed within a matter of weeks.

“This new Predictive Pricing & Demand Platform is a game-changer for golf brands, as they can now obtain critical product pricing guidance in a matter of weeks versus what would normally take months, and for far less than the cost of traditional pricing models,” said John Krzynowek, Partner, Golf Datatech.

“Through this platform, golf companies of all sizes, both domestically and internationally, can eliminate the guesswork and have confidence that their products are optimally priced for maximum revenue and profitability,” he added.

Golf Datatech’s new Predictive Pricing & Demand Platform showcases which product attributes drive the optimum price points, as well as identifying critical ‘price walls’.

Price walls are price inflection points, where unit volume suffers a significant drop if breached. For example, a price wall of US$49 may exhibit the same approximate unit volume from US$45 to US$49 but drop by 10-15% at just over US$50. Another price wall may occur at US$59.

Thus, identifying and maximising revenue and return depends on finely-tuned pricing.

Predictive pricing research is an essential resource for golf companies in today’s competitive marketplace, especially with online sales having a significant impact on many product categories. According to research by McKinsey Consulting, just a 3% increase in price can boost a company’s bottom line by 30% or more.

“There are three business levers impacting profitability: optimised pricing, increased sales, and containing costs, and appropriate pricing can have the most significant impact and provides the most dramatic results,” said Robert Tinterov, President of Atenga Insights.

“However, for a variety of reasons, far too many companies fly blind on decisions regarding price. Historically, a pricing research project typically took several months and carried a hefty six-figure price tag. Now that changes thanks to Atenga Insights’ proven ground-breaking pricing research platform and our alliance with Golf Datatech.”

Krzynowek added: “Through our exclusive database of serious golfers and our ability to quickly and easily survey thousands of consumers, combined with the deployment of Atenga Insights’ artificial intelligence technology to aggregate data, predictive pricing research will be an invaluable tool for golf companies moving forward.”