Pricing / Competitive Intelligence
Companies market their products or services fervently believing that what they offer is of great value. When customers don’t respond quite as enthusiastically, it’s time to look at the competitors to determine whether they are offering something more or better.
Insight regarding pricing strategy of competitors has a direct and immediate impact on the profitability of your organization and hence price intelligence assumes a primary role in your profitability strategy.
• Many years ago, gathering price intelligence was much easier than it is today. Sellers could simply stop by their few local competitors and conduct a manual price check. This ensured that their pricing was in-line with with their local market competitors’, and all that was left to do was to develop a strategy for creating perceived value to build a competitive advantage.
• However, technological advancements have changed the way consumers buy and merchants sell in both ecommerce and traditional brick-and-mortar environments. Geographical barriers that once separated markets have been broken down. This makes the need for a comprehensive pricing intelligence strategy even more important than ever before.
Our Price Intelligence strategic services help businesses develop an effective Pricing Intelligence Strategy:
• Identify Competitors to Benchmark Against: Analysis services to identify competitors with similar products and audiences and benchmark yourself against them.
• Develop Your Strategy for Perceived Value: Determine how your pricing strategy will create perceived value in the marketplace.
• Implement your pricing intelligence strategy: helps businesses formulate an appropriate intelligence strategy and choose a competitive pricing tool to implement.
Our price intelligence strategic services
a. Competitor profiling
b. Competitor business model analysis
c. Manufacturing cost analysis
d. Competitive monitoring and forecasting
e. Competitor pricing analysis
f. Assortment analysis
g. Ecommerce pricing tracking
Efficient pricing rules
Dynamic mark-up/mark-down strategies
Improved store profitability
Competitor price monitoring
Competitive threats early warning
Important industry changes alert
Optimize your individual SKUs
Optimize product offering as a whole
Our Pricing Intelligence Solutions provides answers to critical pricing and promotions questions:
• How is your competitors’ pricing relevant?
• Which competitors have an accurate product matching to your product ?
• How extensive is your coverage for competiror product matching?
• Is there any pricing opportunities based on the pricing intelligence inputs?
• What is your pricing strategy vis-à-vis competitor's strategy?
• What is your response to competitor's price and value ?
• What is your response to competitor's counter intelligence strategy?
• Is your competitive strategy futuristic and forward looking ?