Pricing is hard. Really hard. Probably the hardest thing in some industries and professions. So why did we start Perfect Price? Why do we show up every day for our customers?
Because pricing is hard – but necessary.
That’s why we built Perfect Price.
Pricing well requires hours and hours of rote, time-consuming and detail-oriented work. “Revenue Management is just eternal vigilance,” a Vice President of Revenue Management at one of the world’s largest hotels once told me. It couldn’t be more true. And as it turns out, AI is way better at being vigilant than people.
We believe in a world where dynamic pricing is THE standard practice
I used to say “everything will be dynamically priced except for your morning cup of coffee.” Then I read about a Chinese company, Luckin Coffee, that dynamically prices coffee at their shops. If your daily cup is dynamically priced, what won’t be? Our children, or perhaps their children, will look back on pricing as an anachronism – like phones that had to stay plugged into the wall, TVs that you could ONLY watch what’s broadcast, or phone books.
They’ll ask, “How did you do this without AI?” the way my kids ask, “Why did you used to plug in phones? And why didn’t those phones have screens?”
We built our solution for innovative companies and their customers
History is littered with leaders who did not embrace inevitable change. From Sears in retail to Blockbuster, fighting the future is a losing battle.
All the CEOs and Chairpeople who believe that their industry won’t have dynamic pricing, or that their company is special in some way… well, we’re here for their customers and their competitors. We’re building software so that they can have accurate, dynamic prices, with minimal investment. So they can put those dinosaurs into a tar pit, and delight their customers. After all, who would trade an Uber for a taxi at twice the price?
We are committed to continuous improvement
Every day we work hard on this problem.
Our team of talented professionals comes in every day to solve one of the hardest problems in business – pricing. This is why we’re committed to the continuous improvement of our Artificial Intelligence-powered dynamic pricing solution, empowering pricing professionals with intelligence, transparency, and control.
We work in lots of industries, but we bring the same vigor, the same intelligence, the same determination to each one. We put our customers first, and their customers right after, so that we build the best pricing solution on the market and change the way pricing is done.
We have a passion for perfect prices
We have a passion for helping companies make the right products available to the right customers, at the right time, with the “Perfect Price.”
For our dynamic pricing solution to be of maximum value to our customers, their end customer’s perception of the prices presented to the marketplace must be well-received psychologically.
To ensure prices are consistent with our customer’s willingness to pay, the AI scientifically determines recommended prices for each product in its appropriate micro-segment of the marketplace. We believe this approach maximizes our revenue, our customer’s profits, and their customer’s satisfaction--a win/win/win proposition and the formula for success.
My passion is fueled by having personally done pricing for years. In the past, I have been left wanting for a “smarter solution” to an age-old problem. Thus, my fellow co-founder and a PhD in machine learning, Youngin, and I decided to build a better mousetrap ourselves by merging the best of AI, Machine Learning, and Pricing & Revenue Management science to share it with the world.
Our long term vision is to look back in twenty years and wonder, “How did they do pricing without Perfect Price?”