Determine if the strongest products that a big retail group offers are well priced compared to similar products offered by principal competitors.
Factored team built an insightful deck impacting sales strategy:
Factored built a deck presented to the product team and the Data and Analytics Vice President so that all contributors were aware about how key products were positioned in the market in order to design strategies that helped them increase their sales while reducing the impact of contenders’ offerings. This delivered a complete overview of how key products pricing and margin can be improved.
The Challenge:
Some key office products were not selling well and weren’t mentioned in known product reviewers.
It wasn’t clear for the business what the office chairs’ position was in the market compared to principal competitors.
The Solution:
The deck that the Factored team presented allowed the HM product team to understand how standing desk prices could be improved taking into account competitors’ offerings. As well as identifying possibilities of trimming references from the catalog that weren’t adding value to the business.
Opportunities of increasing entry level office chair products were discussed and contributed to the business’s sales strategy.
The Outcome:
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Tech Stack & Skills:
Storytelling, SQL, Snowflake, Data Visualization, Sales Theory, Web Analytics, Product Price Comparison, PowerPoint.
Results
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