Pssttt.. we have an insightful event about Dynamic Pricing for you.
Outsmart your competition with intelligent pricing:
Competitor Pricing has many useful features that will help you optimise your pricing.
Out of the box tools delivered by our pricing engine.
Before the pricing strategy can be chosen, it is important to gain insight into price-determining factors. Is this mainly the cost? Then you can start with a cost-based strategy. Do you want to take competition into account in addition to costs? Then you can also combine different strategies with our Pricing Strategy Builder.
In SYMSON you can indicate which product you want to scan with competitive prices. Based on the product code, our algorithm searches for (new) competitors on a daily basis and adjusts the prices (after your approval) based on your business objectives and strategic positioning.
Send us your product codes (EANs). If there are no EANs, we can jointly look at the options available.
Identify your competitors and define rules based on their prices to set up the Intelligence Pricing model.
Gain insights into your price position and evaluate what impact the competitors have on you own revenue.
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For these products we discuss with the company what strategy is more suitable for this product, e.g. cost-based pricing or elasticity based pricing.
In SYMSON you can set business rules (contraints) that limit price changes to for example max. 5 % per time. In this way you stay in control with large price changes.
Basically not, SYMSON is able to find multiple countries competitive prices.
Yes that is possible! You can give product (groups) multiple strategies in order to experiment which contributes the most to your business objective.
Both options are possible. You can set up the strategy with distances to your main competitor(s) by yourself. It’s also possible to manually change the prices or overrule the advised prices of SYMSON. If you want to see this by yourself, please request a demo.
The answer depends on your assortment. Do you have a lot of popular products or A-Brands which are offered by many vendors? And is the price a key factor in the customer decision to choose for your store? Then competitor pricing for these specific products might be a good solution to increase your pricing position and attractiveness in the market.
