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Outsmart your competition with intelligent pricing:
Competitor Pricing brings many useful features that will help you optimise your pricing.
Out of the box tools delivered by our pricing engine.
Before deciding on the optimal pricing strategy, price-determining factors need to be evaluated. Is cost a primary decision-making factor? Opt for a cost-based strategy. Should competition also be taken into account? Gain insight into your most important pricing parameters and combine different strategies with SYMSON’s Pricing Strategy Builder.
In SYMSON, you can indicate which product you want to scan for competitive prices. Using the product code, our algorithm searches for new competitors on a daily basis and prompts you to adjust the prices based on your business objectives and strategic positioning.
Export your data or connect to SYMSON's API. If unsure, we can help assess the options available and assist with this process.
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 your own revenue.
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For such products, we carry out strategical inquiries with the company to decide on the most suitable course of action, e.g. cost-based pricing or elasticity based pricing, etc.
In SYMSON you can set business rules (contraints) that limit price changes to for example max. 5% at a time. In this way, you stay in control of large price changes.
Not at all! SYMSON tracks, examines and compiles competitive pricing data from multiple countries and regions.
Absolutely! You can assign multiple strategies to your product(s) in order to experiment and identify the ones that contribute the most to your business objectives.
Both options are possible. You can set up the strategy with custom distances to your main competitor(s). It is 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? Is the price a key factor for the customers' decision to choose your store? Then competitor pricing for these specific products might be a good solution to increase your pricing position and attractiveness in the market.
