How brand managers can use Prisync?
Discover competitor price & stock changes.
- No credit card required
- 14-day free trial
- No credit card required
- 14-day free trial
Pricing as a marketing weapon
Even if you are a leader in the market, you have to adapt your prices to your market. Imagine that you traditionally had been pricing high and all your competitors raised their prices because of a trend in the market. If you keep your prices the same, the message could be that you are losing your leadership.
If you are not a leader, this need is more obvious. As most businesses are not leaders in a market, they have to use offers and promotions to grab buyers’ attention and increase the conversion rates
However, doing this is easier than done. To be able to see your actual position in the market and detect competitive opportunities, you should have a great level of intelligence. In this case, competitor price tracking software is useful to get actionable price insights from the market.
You will know when your competitors are changing their prices, when they are offering promotions, and when they are out of stock. This will let you create a plan to adapt your brand to the market. For instance, you will be able to offer the best price.
You’ll have great knowledge about the market. Besides, thanks to the option of creating graphics, you will be able to analyze the pricing evolution in the long term. Are the prices varying seasonally? Or are they perhaps getting lower and lower every year? The information allows you to identify repeated behaviors and make accurate decisions before they happen.