HAVE A QUESTION?

Frequently Asked Questions

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.

Are competitive prices limited to a particular country or region?

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

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.

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

In SYMSON you can set business rules (constraints) that limit price changes to for example max. 5 % per cycle. In this way you stay in control with large price changes.

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.

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.

FAQ Block #1