Pricing Solutions, Molson Coors Canada, Queen's School of Business Win 'Practice Prize'

Online, June 17, 2013 (Newswire.com) - Toronto-based Pricing Solutions Ltd., together with Molson Coors Canada and Queen's School of Business were awarded the 2013 INFORMS Revenue Management and Pricing Practice Award last week. They were named this year's recipient for their outstanding application of revenue and pricing management techniques in jointly developing the Price and Promotional Planning Model (TM).

The Prize was awarded as part of the Annual INFORMS (Institute for Operations Research and the Management Sciences) Revenue Management and Pricing Section Conference, hosted by the Scheller School of Business at the Georgia Institute of Technology, Atlanta, Georgia.

Representatives from Pricing Solutions, Molson Coors Canada and Queen's School of Business
were on hand to accept the award.

Jim Saunders, Vice President of the Pricing Management Practice at Pricing Solutions said, "There were a number of significant challenges we had to overcome throughout the course of this project."

"From a technical standpoint, we were building a model of consumer preferences in a complex category and on a scale that was larger than what commercial software could handle. It was equally important to develop comfort and confidence in the tool, in a way that it could become part of the Revenue Management Process at Molson Coors."

Finalists for the award presented nominated-projects as part of the conference. Judges selected the winning submission based on achieving excellence in 3 areas: technical merit, unique problem and approach, and achieving results.

The Price and Promotional Planning ModelTM is currently in use by Molson Coors Canada. As a result of its success, further international expansion and development is planned by the brewing company.

"We are still at the early stages of development in our Revenue Management practices at Molson Coors and genuinely honored to be recognized for our initial success by such a reputable organization, for our practices and results in this discipline." says Christine Jakovcic, Senior Director, National Revenue Management at Molson Coors Canada.

"In partnership with Pricing Solutions Ltd. and Queen's School of Business, we will continue to strive to grow and lead thinking in this important area of management science."

Pricing Solutions, Molson Coors Canada and Queen's School of Business partnered on the project for over a year. The three join past Practice Prize winners including Hewlett-Packard (2012) and Marriott International (2010).

Pricing Solutions is an international price consultancy specializing in developing pricing management tools and models, as well as Pricing Strategy, Pricing & Value Research, Pricing Training and Pricing Systems services. The organization was named a finalist for the INFORMS Practice Prize in early May. INFORMS is the largest professional society in the world for those in the field of operations research, management science and business analytics.