Category: Best practices in price monitoring

Reading Time: 3 minutes

Starting a business is one of the most difficult challenges for all entrepreneurs. On the other hand, being ready to take full responsibility of the new start-up and keeping up with the competitive market conditions with little experience make things harder and harder. However, knowing these tactics can help you avoid some common traps. Choosing...
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Too many entrepreneurs are doing business in different locations or too many of them are planning to enter new markets all around the world. But the question is: are they actually paying attention to set prices to be fair enough for different locations? Unfortunately, the answer is: no. According to research, the prices of products...
Reading Time: 2 minutes

Lately, the competition on the market has increased the pressure on the product pricing process so greatly. Whenever companies realize the consumer spending is slowing down, they are trying to spend more time defending their market position and prices. Staying ahead of the competition may be tough, but it is not impossible – you just...
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After an explosion in the number of brands and communication channels, it is getting harder to build strong brand awareness in the ever-changing market conditions. Moreover, similar products and services in many industries make more difficult to protect existing brands’ permanency. That is why understanding the brand identity and the needs of customers before setting...
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The biggest passion of every company’s owner is increasing revenue with maximum profitability. One of the best ways to increase company revenue is using the optimal pricing strategy. However, setting prices optimally can be quite difficult in different local market environments. Let’s assume that your company is competing in many locations and different market segments, which...
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A successful business is based on one simple concept: trust.  However; it is an unavoidable fact that earning this trust is not so easy. Especially, earning this trust as an online merchant is a big deal. The importance of trust If you ask any salesperson if there is any weapon more powerful from pricing, most of them would tell you it’s a customer’s...
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The importance of using the right pricing strategy has been accepted by many companies. A 1-percent price increase or decrease will influence the results in terms of profit. Therefore, thousands of pricing decisions are made by different companies in every year – in order to deliver best prices. Unfortunately, some of them don’t succeed, which...
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With lots of players on the market and new ones popping out almost on a weekly basic, it is getting harder and harder to keep up. The increasing number of competitors is bringing millions of questions to a retailer’s mind – How to stay afloat against my competitors, what kind of methods can be valuable in...
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Over the last 2 decades, well-managed companies realized the significant role of pricing. The right pricing strategy is the fastest and most effective weapon for managers in order to increase profits and drive company performance. A pricing process can be difficult, especially in such a competitive market. It requires proper investigation and clarifying your goals. First...
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Automated repricing is a very appealing feature to many online merchants. It is attractive and popular among retailers because it seemingly makes price change process fully automated. However, behind that appeal there is a big controversy, and we’ll try to shed some light on it with this post. Lets start with some PROs of automated...

About Price2Spy Blog

This blog is a place for eCommerce professionals to discuss ideas, methodologies and strategies to compete more effectively in the ever more tightening world of online retail. We explore things like competitive price monitoring, competitor business intelligence, competitive pricing, and counter-intelligence in general.

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