{"id":97201,"date":"2023-05-23T13:16:11","date_gmt":"2023-05-23T13:16:11","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=110135"},"modified":"2023-05-23T13:16:11","modified_gmt":"2023-05-23T13:16:11","slug":"mckinsey-named-a-leader-in-the-idc-marketscape-worldwide-retail-price-optimization-solutions-2023-vendor-assessment","status":"publish","type":"post","link":"https:\/\/indonesiatribune.com\/mckinsey-named-a-leader-in-the-idc-marketscape-worldwide-retail-price-optimization-solutions-2023-vendor-assessment\/","title":{"rendered":"McKinsey Named a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment"},"content":{"rendered":"<div>\n<h4 align=\"center\">Periscope by McKinsey recognized as a comprehensive pricing solution that includes strategy, analytics, technology, process optimization, and change management<\/h4>\n<p align=\"left\">NEW YORK and LONDON, May 23, 2023 (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.mckinsey.com\/&amp;source=gmail-html&amp;ust=1684934135976000&amp;usg=AOvVaw16s3y1GhPmwZICZ6YZonVC\"  rel=\"nofollow noopener noreferrer\"><u>McKinsey &amp; Company<\/u><\/a> today announced that Periscope by McKinsey has been recognized as a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment (doc #US49458922, March 2023). McKinsey was also named a Leader in the IDC MarketScape in 2021-2022 (doc #US48393721, December 2021).<\/p>\n<p>The Periscope by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and a suite of marketing and sales analytics solutions, including pricing and promotion. This unique combination helps companies drive revenue growth and fuels <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.mckinsey.com\/capabilities\/growth-marketing-and-sales\/our-insights&amp;source=gmail-html&amp;ust=1684934135976000&amp;usg=AOvVaw0rFmhzhMtGjfr_CjQYL9OZ\"  rel=\"nofollow noopener noreferrer\"><u>Growth, Marketing &amp; Sales<\/u><\/a><u>\u2019<\/u> transformational client offerings.<\/p>\n<p>Price is often the first consideration of consumers when making a purchase. For retailers, setting the right price at the right time is crucial to driving growth and profits, yet few are able to make informed decisions using real-time data and market analyses. Only 15 to 20 percent of retailers have some form of dynamic pricing capabilities.<\/p>\n<p>According to the IDC MarketScape report, \u201cTogether with McKinsey&#8217;s professional services, Periscope&#8217;s customers benefit from a comprehensive pricing solution that includes strategy, analytics, technology, process optimization, and change management, which is highly tailored to the company and its goals while staying on a long-term upgrade road map. McKinsey&#8217;s solution focuses on the full impact potential with a full pricing life-cycle package.\u201d<\/p>\n<p>The IDC MarketScape report identifies some of McKinsey\u2019s strengths:<\/p>\n<ul type=\"disc\">\n<li><strong>Sophisticated pricing, expert-focused solution<\/strong>: McKinsey brings together over 750 full-time employees dedicated to pricing science, with a complement of strategic consultative service. Our team\u2019s proficiency in elasticity and the integration of rule-based capabilities create a strong user interface. And our strategic analytics tools mean long-term customer success and margin growth. We know how to push our customers to drive pricing excellence, bringing unique expertise to develop pricing capabilities.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li><strong>Customer responsiveness<\/strong>: McKinsey customers are highly confident that we understand their current and future needs, and are willing to invest in our platform to support future growth opportunities.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li><strong>Customer satisfaction<\/strong>: McKinsey customers are highly satisfied with Periscope and the sales and customer service processes. They are highly likely to recommend the company to other colleagues in the industry. Customer interviews highlight McKinsey\u2019s ability to customize solutions to fit customer needs.<\/li>\n<\/ul>\n<p>\u201cPrice optimization has become even more important as the economy emerges from the pandemic and inflationary pressure requires considered tactics that meet retailer and consumer needs. Retailers must evaluate and leverage price optimization solutions to reduce costs, maintain profitability, and continue to offer effective price points that consumers will be willing to purchase at,\u201d said <strong>Ananda Chakravarty, vice president for Retail Insights at IDC, and author of the report.<\/strong> \u201cSeveral factors play a part in price, and all of them lead back to driving the retail business. Retail is about selling merchandise, and price is a key driver.\u201d<\/p>\n<p><strong>Zachary John, a partner and Periscope leader at McKinsey &amp; Company <\/strong><br \/>\n\u201cAs revenue growth experts, we focus on helping retailers build a data-driven operating model to make forward-looking decisions. Their ability to harness competitive intelligence and consumer insights to build, refine, and, in real-time, optimize their pricing strategy is of critical importance to protecting margins and driving growth. Our powerful combination of world-class consulting services and Periscope pricing solutions helps our clients drive analytics and insights into the economics of pricing and robust execution.\u201d<\/p>\n<p><strong>Tobias Wachinger, a senior partner at McKinsey &amp; Company<\/strong><br \/>\n\u201cAs retailers and companies feel the pressure from all sides to rein in prices and adapt to inflation, the time is now to refine their pricing strategies. And what the outperformers are realizing is that they can do both \u2013 strengthen customer relationships <em>and <\/em>overall margins. To create long-term value, companies should take a nuanced approach to pricing, promotion, and assortment strategy that is grounded in rich analytics \u2013 one that can inform customer\u2019s willingness to pay, the margin performance of a product, and service level expected from the price change. We are humbled by the IDC MarketScape\u2019s recognition, and it\u2019s a testament to the work we do in service of our clients and their customers.\u201d<\/p>\n<p>The 2023 IDC MarketScape for Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment excerpt can be accessed <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.mckinsey.com\/capabilities\/growth-marketing-and-sales\/solutions\/periscope\/analyst-reports\/mckinsey-named-a-leader-in-idc-marketscape-worldwide-retail-price-optimization-solutions-2023-vendor-assessment&amp;source=gmail-html&amp;ust=1684934135976000&amp;usg=AOvVaw2cK435opOyUxLnAT36y6CU\"  rel=\"nofollow noopener noreferrer\">here<\/a>.<\/p>\n<p><strong>About IDC MarketScape: <\/strong><br \/>\nThe IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor\u2019s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.<\/p>\n<p><strong>About\u202fGrowth, Marketing &amp; Sales, McKinsey &amp; Company\u202f<\/strong><br \/>\nThe mission of the <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.mckinsey.com\/business-functions\/marketing-and-sales\/how-we-help-clients&amp;source=gmail-html&amp;ust=1684934135976000&amp;usg=AOvVaw2lE1Q9BV1uP8u6xGA33NpL\"  rel=\"nofollow noopener noreferrer\">McKinsey Growth, Marketing &amp; Sales<\/a> practice is to help leaders of both consumer and business-to-business clients\u202fcreate Growth that Matters through\u202fmeaningful transformations and\u202fmarketing-driven profit.\u202fThe practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today&#8217;s omnichannel opportunities.\u202fClients benefit from McKinsey\u2019s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, CLM pricing, and sales and channel management.<\/p>\n<p><strong>About Periscope\u00ae by McKinsey<\/strong><br \/>\nFounded in 2007, and now a part of the McKinsey Growth, Marketing &amp; Sales practice, the Periscope\u00ae by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and cloud-based tools with expert support and training. It\u2019s a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing &amp; Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (largely from McKinsey but also other partners) and best-in-class technology to enable transparency into big data, create actionable insights and new ways of working that drive lasting performance improvement, and typically sustain a 2\u20137% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions includes: Insight Solutions, Marketing Solutions, Customer Experience Solutions, Category Solutions, Pricing Solutions, Performance Solutions, and Sales Solutions. These are complemented by ongoing client service and custom capability-building programs.<\/p>\n<p>To learn more about how Periscope\u2019s solutions and experts are helping businesses continually drive better performance, visit <a href=\"https:\/\/www.google.com\/url?q=http:\/\/www.mckinsey.com\/periscope&amp;source=gmail-html&amp;ust=1684934135976000&amp;usg=AOvVaw2yEti5OStRWBd0WrmLzVKL\"  rel=\"nofollow noopener noreferrer\"><u>www.mckinsey.com\/periscope<\/u><\/a><\/p>\n<p><strong>For further information please contact:<\/strong><br \/>\nMedia Contacts<br \/>\nUS\u00a0: Digennaro Communications\u00a0: MaryLiz Ghanem <a href=\"mailto:McKinsey-DiGennaro@digennaro-usa.com\"  rel=\"nofollow noopener noreferrer\"><u>McKinsey-DiGennaro@digennaro-<wbr \/>usa.com<\/u><\/a> \/ 917-518-8422<br \/>\nUK : 3THINKRS\u00a0: Ruth Jones\u00a0\/ Becca Ross <a href=\"mailto:mckinsey@3thinkrs.com\"  rel=\"nofollow noopener noreferrer\"><u>mckinsey@3thinkrs.com<\/u><\/a> \/ 0208 0872843<img decoding=\"async\" src=\"https:\/\/ci3.googleusercontent.com\/proxy\/be0LcHLyjpgwB-mMCf1ng5BePf6spYUfgaG2aqeJ5ghTDbdKvlYqgEQ0FcaRSOehYQT8RZ-g808VmNCjIQl-1pX-BuOu27_l3LShoDgUscJfZUByKrg1gvErN45Y4ZT8bPyUvRI5qqLC4giNj3sUK5GgZs58PUjFhaii29y4Gm3waoBZ6KY6AFEPI-F9qkpa=s0-d-e1-ft#https:\/\/ml.globenewswire.com\/media\/M2VkOGFmZDktMmFiZC00ZjE5LTllYzMtY2NjOTA1MzYyOTBlLTUwMDA4NDAzMQ==\/tiny\/McKinsey-Company.png\" \/><\/p>\n<p align=\"center\">GlobeNewswire Distribution ID 8844831<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Periscope by McKinsey recognized as a comprehensive pricing solution that includes strategy, analytics, technology, process optimization, and change management NEW YORK and LONDON, May 23, 2023 (GLOBE NEWSWIRE) \u2014 McKinsey &amp; Company today announced that Periscope by McKinsey has been recognized as a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>McKinsey Named a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment - Indonesia Tribune<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indonesiatribune.com\/mckinsey-named-a-leader-in-the-idc-marketscape-worldwide-retail-price-optimization-solutions-2023-vendor-assessment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McKinsey Named a Leader in the IDC MarketScape: 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