Tag: pricing strategy
Repricing, or a more popular synonym dynamic pricing is one of the most used terms in today’s business. However, when you google this term, you’ll find numerous posts, but very general ones. That’s why we decided to be on point. Knowing how it works it’s great, but you’ll agree that it’s equally important to understand where...
Dynamic pricing strategy has caused some serious fuss out there, right? In the fast-paced world of eCommerce, changes are happening on a daily basis. A lot of factors need to be considered in order to stay ahead of your competition. Let’s start by tackling the hardest – dynamic pricing strategy. For starters, this strategy allows...
The dynamic pricing method has great advantages, but what about its disadvantages? Can the use of it actually endanger your business? Being able to set the right price at any time sounds great, but it’s impossible that everything is this easy, right? In this post, we’re going to shed more light on this topic. In...
16 January 2020 - 12:35, by , in New Price2Spy features, No comments
Whether you are a beginner or an experienced seller, setting the right purchase price is always challenging. If you define your prices too high, customers will turn their back to you, and if your prices are too low, you are not going to see much profit. Things get even more complicated in today’s competitive market,...
Regardless of the product, service, or industry type, pricing strategy is definitely one of the most important parts of any business. Pricing is never easy to get right, for both larger and smaller companies. The market became very dynamic and everything that once was a profitable strategy now might not show the same successful results....
Customers are very sensitive to price changes. People’s spending habits are limited by their budgets. And any price change can affect and change them. Because of this, the demand for some products will change due to the price changes (up or down). This is known as the price elasticity of demand. For example, if the price of gas...
In every store, you see signs that say “Buy one get one free”, “Buy this product and get a discount for that product”. The situation is the same at the fast food restaurant “Buy meal deal, save $3”. Everywhere you look there are special offers, discounts for buying more products, etc. This is called bundle...
It is a very common mistake to think that dynamic pricing and price discrimination are the same thing. But they are not. The difference between the two is what they are based on. Dynamic pricing is based on market conditions at that given moment and on the other hand, price discrimination is based on customers’ characteristics....
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...
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...

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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