How can I optimize a product for maximum market and profit share?
Generally, it is extremely difficult to determine which set of features will maximize market share because of the multiple combinations of features that need to be individually simulated and analyzed. As a result, Answers Research developed a simulation software tool called Optimizer™ which has the ability to: • Automatically identify a new product’s optimal features given a pre-determined price • Identify the optimal features, including price, to maximize gross profit across an entire product line • Identify the product mix that will give a company maximum share or profit given any number of products. This helps understand the incremental share or profits that can be derived with more or fewer products in the product line • The Optimizer™ integrates seamlessly into our simulation software to give clients the ability to maximize market share for multiple products concurrently.
