Don’t lose customers for better prices anymore! You can power your ecommerce store with price tracking & price positioning comparison.
To make a wise choice, you must analyze your prices in comparison to your competitors. With our help, you can do this easily and quickly, which will show you where you are doing it incorrectly to compete in the competition and where you can improve with a broad perspective.
Saves your time & resources by providing the latest market prices and stock availability information to compare your price positioning.
Stay in control of your pricing strategy. Our software sends daily reports and price change notifications to help you stay on top of your master pricing plan. Align your prices with business strategy. Let us handle the comparison & positioning part.
How Does It Work?
The price positioning comparison feature works by comparing the latest prices of competitor shopping/product sites in the marketplace. By comparing the websites, Prisync will find the most ideal price for you to increase your profits. So, you can understand your position in the market and develop strategies accordingly.
The price comparison software of Prisync sends you daily reports. The aim is to be instantly informed about the price changes of your competitors and other brands. With Prisync, your online store will have unbeatable prices in the ecommerce competition that suits you best.
The software basically tracks competitor product prices to stay updated if any change happens. You can add new products or competitors to track a wider range of your market. It’s up to you.
Comparing prices is a common habit when buying and selling anything online. You will benefit from Prisync’s software since it will save you time and provide the best possible pricing for your products. You may increase your competitiveness by using the Prisync tool to keep monitoring of your competitors at any time.
Analyze
You can easily analyze your price positioning in your market with Prisync’s daily data. How many products of yours are facing price change compared to its competitors, how many of your competitors’ products are out of stock and more. These are the key elements of the price positioning comparison process. You must take your strategies very seriously to gain profitable aspects in your ecommerce marketplace. Because it is such a competitive landscape, and if you don’t take position according to your competitors and make comparisons, failure can be inevitable.
Strategize
You can see your overall price position in your marketplace. Such as the number of your products that are the cheapest, average or highest compared to your rivals. If you want, you can just compare with one competitor if you’re cheaper, equal or higher than it. According to your business plan, you can set dynamic rules to stay competitive. Set your prices always equal to your closest competitors or some percentage cheaper or higher. It’s up to you. Prisync provides all the fresh data & analysis for you and helps you decide on your pricing plan.
Optimize
Having dynamic pricing is always important and strategic. While it is sometimes profitable to have the same price as the closest competitor in the market, sometimes it may be necessary to be cheaper. When you track the product stock information of your competitors, you can increase your own price against the finished stocks, so you can make a profit. At this point, the critical importance of price positioning comparison comes to light.
You need the right comparisons to make the most accurate pricing decisions. Thus, this way you can determine the most optimal price at the right time and take much more solid steps than your competitors.
What Does My Price Positioning Comparison Tell Me?
Price positioning is the act of placing a price on a product or service that is within a certain price range. Price positioning comparison indicates where a product sits in relation to its competitors in a certain market as well as in the mind of different customers.
For example, a good price positioning in the market can make a product unique. The buyers can consider it as a distinct benefit to them with the money they give for it. It is also helpful and beneficial for your brand’s image too.
Your price positioning comparison tells you your total products’ overall positions compared to rivals. Also, you can specifically see all the products’ information & price comparisons in detail in the reports section of Prisync’s dashboard.
You can check the charts to gather the data in an easier way. Overall analyses in your dashboard tell you the percentage of similarities or differences of your prices compared to competitors. This is provided by the price index data. It calculates the value of your product’s price compared to the average price of that product in the market in its category. This means, with that index you can easily understand how your product stands in the competition and where it takes its price position in the marketplace. This way, you can correctly perceive the price positioning of the product in the market and make the price changes according to that index value.
Summary
Prisync’s goal is to help all sizes of ecommerce businesses to track their competitors and make more profit. With our price positioning comparison feature, you can optimize your price decisions and analyze your business strategies for more profitable success.
The daily data provided by Prisync’s software shows you the marketplace position of your products by their prices, price changes, stock information of rivals & indexes and more. Collect data with Prisync software from your marketplace to have better control of your market and take smart actions.
- Enjoy selling at the most optimum price. This, of course, goes through good data and better price positioning.
- Save time and effort with Prisync’s dashboard and don’t leave money on the table with dynamic pricing decisions.
- Make profitable price & market decisions with the data analysis and summaries of Prisync software.
- Let us handle your pricing and get all the needed reports and detailed analytics to gain a competitive advantage.
