Price tracking and analytics tool for LUCIRA by Pfizer

About the client

HW.Tech partnered with Pfizer, a global leader in biopharmaceutical innovation, to develop an advanced price monitoring and analytics tool for LUCIRA®. LUCIRA® is a product in Pfizer’s lineup offering customers solutions for at-home COVID 19 testing.

Problem statement

In the competitive landscape of branded pharmaceuticals, maintaining an optimal pricing strategy is crucial for retaining market share and profitability. However the lack of real time data into distributor prices and market trends posed challenges for Pfizer in managing and optimizing their pricing strategies effectively. Outdated pricing could result in uncompetitive prices and potential customer attrition.

Solution

This tool enables Pfizer to track pricing across multiple distributors and sales channels, providing real-time market data and actionable insights.

Key features

• Pricing Analytics: analyze gathered data to offer insights supporting distributors pricing decisions.
• Real time Market Data: identify pricing trends, analyze customer feedback and recognize opportunities or issues in product distribution.
• Product Pricing Comparison: assess competitors price positioning and track product assortment to accurately evaluate the environment.

Results

The implementation of HW.Tech's price tracking and analytics tool for LUCIRA® helps Pfizer make strategic pricing decisions, optimize distribution, and maintain a competitive edge in the rapidly evolving healthcare landscape.

• Comprehensive market insights enable agile adjustments to maintain a competitive advantage.
• Optimal pricing strategy boosts profitability.
• Customer-centric approach through real-time pricing adjustments enhances retention.
• Informed decision-making fosters innovation and brand differentiation.