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Market Intelligence & AI in Machine Manufacturing:

Learn how Market Intelligence & AI enables manufacturers to gain a competitive advantage through in-depth market knowledge.

Guide

Pricing Software for Machine Manufacturers: Principle, Benefits and Use Cases

A precise pricing strategy for spare parts is essential in machine manufacturing industry. AI-supported pricing software provides technological support for data-based, market-oriented pricing. It analyzes huge amounts of market data, enabling strategically calibrated pricing based on the current supply and demand situation in real time. On this page, you will find the fundamental principles of pricing software, highlighting its advantages for improving your company's profitability, along with its key functions and features.

In our comprehensive guide, you can learn more about the selection criteria for choosing the right pricing software tailored to your company's needs. Additionally, you'll gain insights into the step-by-step process of implementing this software effectively in your organization, ensuring it seamlessly integrates with your existing systems and enhances your pricing strategy.

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MARKET INTELLIGENCE & AI IN MACHINE MANUFACTURING

The Growing Importance of Market Intelligence 

In a time of rapid technological developments and constantly changing global markets, market intelligence is becoming increasingly relevant in machine manufacturing. The industry is facing challenges such as digitalization, automation, and changing supply chains. The use of market intelligence in after sales can enable efficient market monitoring and create market visibility.

For example, pricing trends for spare parts can be identified at an early stage and the company's own prices can be adjusted to market changes depending on the strategy. 

MARKT-PILOT dashboard using market intelligence to show pricing opportunities and competitor comparison charts

What is Market Intelligence?

Market intelligence in machine manufacturing involves the collection, analysis, and evaluation of data on a company, its competitors, and the market as a whole.

The objective is to use systematic data analysis to make informed decisions, identify opportunities and risks, and therefore achieve a competitive advantage. For machine manufacturers, market trends are crucial for redefining processes, adjusting prices, and securing a competitive advantage. 

The main goal here is to make informed decisions through in-depth data analysis, to strengthen market position, to identify both opportunities and risks at an early stage, and to leverage potential to position themselves resiliently. For OEMs, market intelligence opens up numerous opportunities:

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Automation of processes (more efficiency, time savings, conserving resources)

Increase in customer satisfaction

Increase in customer satisfaction

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Strengthening of customer loyalty

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Reactivation of lost customer relationships

Optimization of operational efficiency and saving of resources

Development of new revenue sources

Identifying new revenue potential

SIDE FACTS

Increase your sales in the spare parts business together with MARKT-PILOT - according to current studies, on average only 4.1% of all spare parts are priced in line with the market. PRICE-RADAR determines the market data for your entire spare parts portfolio, including the prices of competitors. This enables you to identify sales potential and optimize your prices.

Optimize Spare Parts Prices with Artificial Intelligence

Especially in the after sales area, market intelligence offers considerable advantages to machine manufacturers. Many OEMs do not fully capitalize on their sales potential because they do not price their spare parts in line with the market. This is where AI, such as that provided by MARKT-PILOT, offers an innovative solution for market-based spare parts pricing. With AI tools, machine manufacturing companies can create market insight and achieve sustainable increases in sales and profits. By using artificial intelligence, market data is collected and analyzed in real-time, which would not be feasible manually.

Dynamic Pricing for every Market Condition

Market Intelligence enables OEMs to develop dynamic pricing strategies based on current market conditions. This makes it possible to adjust spare parts prices in real-time, depending on supply and demand, seasonal fluctuations, or other market-related factors. This allows companies to optimize their margins while remaining competitive.  

Proactive Response to Market Changes

By continuously monitoring the market, companies can identify changes in the industry, for example, new competitors, technology innovations, or regulatory changes, at an early stage. This enables proactive adjustment of spare parts prices in order to always be optimally positioned in the market. 

Segmented Pricing Strategies

With insights from market intelligence, OEMs can develop differentiated pricing strategies for different customer segments or geographic markets. This makes it possible to set prices based on the value or willingness to pay of certain customer groups, which can result in better market penetration and higher sales. 

Download Market Intelligence & AI Whitepaper
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