Best Price Comparison Tool
As technology is upgrading, consumers are getting more aware of the products and services they are buying online. Gone are the brick and mortar eras where customers were warned to be aware. Customers are well aware of the fact that the online prices of the same products differ as per the website. So, they scroll …
Price Analysis – Learn to Analyse Your E-commerce Pricing Data Effectively Read More »
One often hears the term Price Escalation. As the term suggests, it means when the price of something is increased. To get into more details – it means the increase in the price of a product when it is exported to a broad market. This could be due to tariffs, taxes, shipping costs or distribution …
Before starting with the article, let’s discuss the basics of product codes. Businesses have to maintain inventory to ensure quick sales. But if we do not keep track of the inventory, how would we be able to analyze our business? So, retailers or online e-commerce usually do the same by making each and every product …
Product Codes: GTIN, UPC, EAN, JAN, ASIN – Which One To Use? Read More »
What is a price skimming? Price Skimming is a strategy where you launch your product at a high price, and gradually you wave off the costs as the period of existence of the product increases. Price Skimming is a way through which you can capture a substantial part of the market by focusing on people …
Premium pricing is a kind of tactic wherein a high selling price is set in accordance with other competitors. This can give the impression that the product is qualitative or superior compared to its competitors. This is what we call prestige or image pricing. Customers feel that the product is a premium one and unique …
People often question how they can implement cost-plus pricing in their business. Typical questions are: Is it profitable to use a cost-plus pricing strategy in my business? What would be the problems that I’ll have to face while implementing this strategy? So, here I am with the answer to all your questions. What is cost-plus …
Cost Plus Pricing – Definition And Ideas To Maximise Profits Read More »
Many businesses keep on changing the prices of their products multiple times in a day to boost sales. Dynamic pricing is a key strategy that is used by every business. Define dynamic pricing Dynamic pricing is the environment where the pricing of the product is adjusted. You can adjust the price based on supply and …
Comparison shopping engines are effective ways to find multiple retailers who are selling the same products. The shopping engine will compare the products that are offered by different retailers and pick the offering that is the most relevant. The comparison shopping engines are famously known as price comparison websites. Retailers consider the comparison shopping engine …
Traditional pricing strategies that have once dominated the retail sector are now being redefined due to tough competition in the eCommerce industry. Today, competitor pricing is taken into consideration to decide the appropriate pricing for a product. The competition would define the price of the product. What is a competitive pricing strategy? It is a …
Competitive Pricing: The Advantages & Disadvantages Read More »
WTP (Willingness to Pay) is the amount that the customer is willing to pay for the product or service. The transaction amount will be between the amount that the buyer is willing to pay, and the seller is willing to accept. When a business learns about the price that the customer is willing to pay, …
9 Factors That Affect a Customer’s Willingness to Pay Read More »