Tag: Pricing

Step Up Your Game, Start Tracking Your Global Competition Using Incompetitor

by Intelligence Node

Tracking competition can be a fool’s errand if not done properly. By properly, we mean using modern technology to cover all the aspects that define your competitor’s product and their pricing methods. In that regard, companies usually target competition that is nearest to them in terms of local positioning. Direct competition, if you will. However, ever since the triple W entered the mainstream, the scope has been slowly shifting to all corners of the globe.

Continue reading “Step Up Your Game, Start Tracking Your Global Competition Using Incompetitor” →

How Incompetitor Can Save You Time Spent On Manually Tracking Competitor Products

by Intelligence Node

Introduction

In the world of ecommerce, there is so much going on that it’s hard to keep track of everything. You should be aware of what your competition offers while catering to the increasingly demanding customers. Often guided by pricing as their primary decision-making criteria, your customers can perform comparisons between your online store and others in an instant. Hence, being aware of your competition’s products and when to adjust your pricing is a vital process for e-commerce business.

Continue reading “How Incompetitor Can Save You Time Spent On Manually Tracking Competitor Products” →

All About Incompetitor’s Accurate Data Tracking Technology

by Intelligence Node

Introduction

Market research has asserted itself as one of the primary ways of functioning for online businesses. In the grand scope of online retailing, there is so much competition that makes it hard to count a fraction of them, let alone all. It takes a lot of dedication and thoughtful planning to acquire the competitive advantage in a crowded market. Almost by default, market research is also one of the most difficult aspects of running a modern business as there is so much to cover. At least, that the general perception.

Continue reading “All About Incompetitor’s Accurate Data Tracking Technology” →

Manually Tracking Competitor Pricing Vs Automated Solutions

by Intelligence Node

Obviously, you should track your competition’s pricing. There is no question about that. With all the competition that’s constantly growing, consumers have their veritable pick of the litter. In essence, they are spoilt for choice and can easily find the best deals on the required products in just a few taps or clicks. So, in order to keep up with the savvy customers and competitors, businesses turns to price tracking. It allows them to be increasingly competitive and focal in their efforts while achieving greater profitability through the use of data.

Continue reading “Manually Tracking Competitor Pricing Vs Automated Solutions” →

How To Provide Better Pricing Than Your Competition Without Jeopardizing Your Brand

by Intelligence Node

Regardless of the industry, a business operates in, even if it’s relatively new or small, a careful research will reveal two or more competitors. Their existence immediately changes the playing field. In a concentrated effort to gain that one step ahead, businesses adopt numerous competitive strategies to increase their competitive advantage. That’s all fine and dandy, but how exactly do you cope with your competition? The most usual suspect in the case of intense competition is the price war.

Continue reading “How To Provide Better Pricing Than Your Competition Without Jeopardizing Your Brand” →

Too Cheap, Too Expensive – It’s All About Beating The Competition To It

by Intelligence Node

As every business is unique, there are variances in pricing the products and services in every company. Not all of them incorporate strategies that aim to sell the highest possible amount (or all of it) of what they are selling, just so it could act as an indicator of company’s market performance or success. Rather, the usual approach is setting the pricing to sell the optimal amount of products and services you offer, all the while gaining maximum profit per each sale.

Continue reading “Too Cheap, Too Expensive – It’s All About Beating The Competition To It” →

How Often Should You Adjust Your Pricing?

by Intelligence Node

Every business that seeks to achieve maximum levels of profitability needs to think carefully about its pricing. Specifically, it needs to think about how often to change its prices. Once you identify and set the best pricing strategy for your product or service, it can be quite tempting to hold on to it. We know how you reason and we empathize – you spent considerable time and effort to set it up, it works so why would you ever change it?

Continue reading “How Often Should You Adjust Your Pricing?” →

Your Competitors Already Know This About Your Pricing Strategy

by Intelligence Node

Keeping an eye on what your competition is doing is a great way for growing your business. Identifying who they are and what they are offering can prove invaluable to make your goods set apart from the rest. It will enable you to set prices competitively and utilize all the elements of the marketing mix to the fullest. If you know or learn a few secrets on the way, all the better but the bottom line stays the same – the more you know about your competition, the more your chances for success grow.

Continue reading “Your Competitors Already Know This About Your Pricing Strategy” →

Pricing Benchmarks: Where Do You Stand?

by Intelligence Node

Let’s start off with the basic definition – what are pricing benchmarks? It’s the process of comparing your prices to the prices of the competition in a specific market segment. Why, one might ask, blissful in ignorance. The answer is very simple – because understanding your pricing and your position among your competition is of critical importance to a thriving business. This is especially pertinent to pricing managers and analysts who are trying to stay on pace with persistent fluctuations in the e-commerce ecosystem. Armed with this knowledge, a business is effectively positioning itself in the marketplace so that the target audience is thus willing to choose and pay for its products.

Continue reading “Pricing Benchmarks: Where Do You Stand?” →

Lessons About Price Analysis You Need To Learn To Succeed

by Intelligence Node

It’s not really a secret to say that every business can benefit from an effective pricing strategy. However, in order to identify which strategy is right for a specific business or industry and set the right (some would say reasonable) price in a highly competitive market, you need to be able to utilize every resource at your disposal. That, for the most part, means performing a price analysis. This post will show what it can do for a business in order for it to succeed.

Continue reading “Lessons About Price Analysis You Need To Learn To Succeed” →