Pricing
CURRENT COMPETITIVE LANDSCAPE

Why is Competitor Pricing important?

Outsmart your competition with intelligent pricing:

Icon
Pricing is your most important decision
Arrow
Icon
Price Leadership is key
Arrow
Icon
Automate your pricing process
Arrow
Icon
Benchmarks are needed to survive
Arrow
Icon
B2B: Track and manage vendors
Arrow
GET AHEAD OF THE COMPETITION

Act dynamicly on price changes

SYMSON offers the opportunity to collect daily market prices from all the vendors in the market. With our direct relationship with Google, we are aware of when key competitors adjust their prices and new competitors enter the market. Based on this, you won't miss a beat in Price Leadership and you can easily position yourself when it comes to pricing your most competitive products.
You will be able to:
Build a pricing strategy that reflects your business
Decide your price
positioning
Act dynamically on price changes
Benchmark prices of competitors
CREATE YOUR PRICING STRATEGY

Set Competitive Prices

Benchmark your prices with your main competitors and maintain the desired positioning.

Follow competitors

Take actions based on pricing behaviour of competitors

Apply business rules

Set constraints according to your needs

Automate prices

Automatically push data into your own system to realise price actions
SMART FEATURES

Key Features of Competitor Pricing

Competitor Pricing has many useful features that will help you optimise your pricing.

Competitor Pricing Functionalities:

Out of the box tools delivered by our pricing engine.

Create competitive prices
Benchmark your prices with relevant competitors
Select position in the market and maintain it
Apply your own business rules
Get notified for new entrants in the market
Native integrations with Google
Eliminate irrelevant competitors
Apply psychological price tactics
Import and export to .csv or API

CUSTOMISE YOUR STRATEGY

Combine with other strategies

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.

Explore All
OUR INTEGRATIONS

Why SYMSON stands apart from other solutions

Icon
Google Shopping Integration
Arrow
Icon
The SYMSON API
Arrow
Icon
Spreadsheets
Arrow
Icon
Website Scrapers
Arrow

Competitor Pricing in action

Decide your desired price positioning
Benchmark your price with the right competitors
Get notified when needed
Select prices for different regions and market places
Start Your Custom Demo
Track  new entrants in the market
Maintain a competitive position in the market
View all your data in one place at the same time
Make real-time price adjustments
Start Your Custom Demo
SETTING UP

How it works in SYMSON

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.

1. Send your product data

Send us your product codes (EANs). If there are no EANs, we can jointly look at the options available.

2. Configure Competitor Pricing

Identify your competitors and define rules based on their prices to set up the Intelligence Pricing model.

3. Get valuable data to increase revenue

Gain insights into your price position and evaluate what impact the competitors have on you own revenue.

THE GAINS

Benefits of Competitive Pricing

More accurate price positioning

SYMSON automatically tracks the prices of your competitors so that you can have a better understanding of your price position in the market and increase your growth.

Increase revenue

A competitive pricing model allows your business to control the position in comparison to competitors so that there is a lower chance of losing revenue.

Extensive market research

Do market reasearch on products you want to add to your inventory to check the saturation of the market.

Easy implementation

A competitive pricing model is, in comparison to other pricing models, easy to calculate and implement, if done right.

Automate your process

Automatically respond to price changes based on your current strategy and apply your own business rules

Avoid manual errors

By setting the parameters you will always act in between boundaries and thus avoiding mistakes done during manual input

Here's what our customers say

802k
Prices automated
273k
Prices optimised
in margin
“SYMSON helps us make our pricing process more intelligent.” - Erwin Hendriks Head of Pricing, Indi.nl
See case study
HAVE A QUESTION?

Frequently Asked
Questions

Got a question? We're here to answer! If you don't see your question here, drop us a line on our Contact Page.

What are you doing with products that don’t have competitors?

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.

What if my competitors change their price very aggressively and I don’t want to follow?

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.

Are competitive prices limited to a particular country or region?

Basically not, SYMSON is able to find multiple countries competitive prices.

Can I also combine competitive pricing with other strategies?

Yes that is possible! You can give product (groups) multiple strategies in order to experiment which contributes the most to your business objective.

Is the software fully in charge of the pricing or can I customise it and make changes myself?

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.

How can I understand that competitive pricing is a suitable solution for my business?

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.

Trusted by