Price Intelligence (or Competitive Price Monitoring) refers to the awareness of market-level pricing intricacies and the impact on business, typically using modern data mining techniques.
It is differentiated from other pricing models by the extent and accuracy of the competitive pricing analysis.
Just a few reasons to get Pricing Intelligence Software
Act on price improvement opportunities
Analyze how the pricing of your products compares to that of the same products as your competitors.
Tweak the prices of products that are priced either too low or too high.
Drive efficient pricing across thousands of products to maximize
Build the desired price perception
Maintain a healthy, competitive price position for all your products across various product-types, categories, and brands.
Identify and act on areas where your competitive price position can be optimized to trigger more sales or drive the desired price perception.
Drill down to observe detailed pricing insights on product categories of interest against specific competitors.
Analyze historical competitive
Gain an in-depth view into your competitor’s pricing strategies over any period of time to anticipate price movements.
Break down your analyses along multiple dimensions like category, product type, brand, or even individual products.
Track and react quickly to aggressive price movements by competitors to ensure you don’t lose out on market share.
Derive product-level insights and
Acquire actionable competitive insights and business recommendations even for specific products in your assortment.
Combine stock status information with competitive pricing insights to make smarter and aggressive pricing decisions.
Monitor the historical price movement of high-priority products relative to your competitors.
Grow your sales up to 85% by monitoring your competitor’s pricing strategy. Find the good price point to gain customers.
Increase profit margin by raising prices that are too low. Make strategic pricing decisions with high quality competitor pricing information.
Have an overview of your market and products offered by your competitors. Find opportunities and adjust your product assortments.