Ricker Oil Uses PriceNet to Be Consumer's 'Buddy'
Published in CSP Daily News
Implements KSS Fuels' price optimizing solution for automated postings to GasBuddy.com
ANDERSON, Ind. -- Ricker Oil Co. is posting its fuel prices toGasBuddy.com to keep motorists informed of its competitively priced fuel. Currently, Ricker uses PriceNet fuel price management and optimization system from KSS Fuels to establish its pricing strategy. Moving forward, the company will also use PriceNet to feed its latest fuel prices directly to the GasBuddy database.GasBuddy.com is a group of local websites that allow visitors to post and view recent retail gasoline [image-nocss] prices.
"We've used PriceNet since 2006, and it has proven to be a very valuable tool for day-to-day fuel price management and optimization," said Quinn Ricker, president of Ricker Oil. "PriceNet helps us keep our prices reasonable and profitable. With the addition of the automated reporting to the local GasBuddy sites, we can keep consumers informed about our competitive prices for fuel in their area."
Founded in 1979, Anderson, Ind.-based Ricker Oil is a family-owned company that owns and operates 48 convenience stores in Indiana, as well as a petroleum dealership and other enterprises.
"The competitive retail landscape means fuel retailers must always be finding ways to bring value-added services to consumers in order to stand out in the market," said Bob Stein, president and CEO of KSS Fuels. "Our PriceNet product not only lets Ricker Oil evaluate pricing at the local site level to make informed pricing decisions rapidly, it also allows them to reach consumers with fuel price information in real time via GasBuddy. This is an added service that will set Ricker Oil apart from the competition."
PriceNet is a comprehensive pricing solution that supports the key tasks and stakeholders involved in retail fuels pricing. High levels of automation and an exception-based approach ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics.
GasBuddy.comis operated by Brooklyn Park, Minn.-based GasBuddy Organization Inc. and is a collection of local websites designed to serve the public with everything needed for consumers to easily and freely share gas-pricing information. With the release of the first GasBuddy Organization website in June 2000, millions of consumers have been regularly visiting GasBuddy websites where they post gasoline prices and find fuel in their local area.
KSS Fuels is a leading global provider of pricing software, analytics and consulting services to fuel retailers and wholesalers in the oil and gas, convenience store, grocery and retail industries. It helps fuel marketers and distributors implement effective pricing solutions and increase profitability through the use of knowledge and numbers. The company's U.S. headquarters is in Florham Park, N.J., and its international headquarters is in Manchester, U.K.