SLab combines economic theory and quantitative methods to cover the following project areas and more:
- Demand forecasting (for all type of firms and products)
- Quantify how much the firm can expect to sell of each product.
- Pricing optimization (for all type of firms and products)
- Evaluate if the firm should increase or decrease its price level to maximize market share, revenue or profit.
- Evaluate if the firm should charge a uniform price level or engage in price discrimination strategies to maximize market share, revenue or profit.
- Product/service design optimization (for manufacturing and service firms)
- Determine the characteristics that the firm should incorporate or change in its product/service to maximize market share, revenue or profit.
- Product assortment optimization (for retail firms)
- Determine the assortment of products that the firm should offer to its customers to maximize market share, revenue or profit.
- Store layout optimization (for retail firms)
- Define the display layout of products that maximizes market share, revenue or profit.
Examples of projects that were conducted or are being conducted by SLab:
- Development of a demand forecasting model for TVs in a technological retail company, and identify the value customers attribute to different characteristics of various products;
- Use of demand forecasting models at a technological retail company to define the assortment of products to display in each store that maximises revenue.