How do you keep track of the rapidly changing (sub)markets?
As a product manager you probably manage a large assortment of articles from different brands and suppliers. In each market, there are usually other, often rapidly changing, competitors active. More and more often they come from unexpected quarters, because in many markets industry blurring, also called ‘blurring’, has made its appearance. Through the use of the Internet, a sale price in line with the market is crucial. After all, customers can compare the price and other conditions of many suppliers with just a few mouse clicks. As a product manager, it is therefore becoming increasingly important to keep a close eye on price movements in order to determine whether purchasing conditions are still in line with the current market situation. But how do you manage this with an assortment of hundreds or even thousands of products?
Mapping out almost the whole of your market?
Searching the prices manually is a possibility, but when it comes to many products this is a very time-consuming process. That is why in practice it is usually limited to new products and a periodic sample on the rest of the assortment. At the current speed of information processing, however, the chance of mistakes is quite high. If prices are too high, the turnover can decrease, and if you are priced too low, the margin will be left behind. Pricesearch can support you in this. Our system automatically checks the prices of both customers and competitors and calculates the price differences. At a glance, you know whether your pricing is in line with the market.
How does it work?
Open an account at Pricesearch and enter your EAN numbers or your own product numbers. It is even easier to import an Excel file. That’s all you need. Pricesearch will then start working for you right away. First of all, Pricesearch will look up the prices you use yourself. Then the system searches four times a day for other suppliers of your products. The found prices will be placed next to each other and a colour coding will show you how they relate to your own price.
Even easier: Pricesearch ensures that you receive an Excel file in your mailbox every Monday morning, so that you can start the week with an up-to-date picture of the market prices. Sorting by brand or product type quickly makes it clear whether gross recommended prices need to be adjusted.
Too good to be true?
Start today and optimize your margins without reducing your sales opportunities by offering unrealistic sales prices. The discussions with your sales manager, account managers, customers and suppliers will also become much easier because you can prove price deviations.
Unique in the price comparison market!
Absolutely unique in the market is that Pricesearch also includes non-identical but comparable products of competitors in the assessment. For this, the system uses an advanced algorithm. Even differences in packaging units are taken into account. The price history of each product is kept up to date and the graphical representation gives you a perfect insight into the price development.
Want to use dynamic pricing?
Once you use Pricesearch, you get a well-founded feeling for price movements in the market. The price position of your assortment no longer has any surprises for you. It might be time for the next step: record your cost price and minimum desired margin and Pricesearch will continuously calculate the optimal price for you.
System integration with an API.
An API (application programming interface) can ensure that the calculated prices are exchanged with your webshop or ERP system in real time. This opens up new possibilities with which you can easily find the balance between the maximum sales opportunities and the highest achievable margin.