Competitive Pricing

Competitive Pricing

Competitive Pricing

 


Purpose:

 

To boost sales and keep a competitive edge in the market, a store will price its goods the same as those of its rivals. Additionally, businesses establish comparable market prices to determine whether their previous pricing was too high or if another factor was influencing sales.

 

Benefits:


- Boosted sales and market share

- A higher profit margin 

- Satisfied customers

 


Steps to configure for Competitive Pricing:

 

Step 1: Go to Gaze at > Competitive Pricing


 

 

Step 2: Choose the Competitor Name from the Competitor Details.

 

 

 

Step 3: Select the Information Type from the dropdown listed.

 

 

 

Step 4: Choose the Competitive Information from the dropdown.

 

 

Step 5: Mention the Remarks and Reported by detail. Click Save.

 

  

 

Step 6: Note the code and click Ok.

 

 

Step 7: Fill in the details with Item Descriptions and Competitive Price along with Comments. Click Save.

 

 

 

To check in Reports for item Information:

 

Step 1: Go to Reports > Sales > Analysis > Competitive Pricing (Item Information)

 


 

Step 2: Check & verify the details in Reports.

 


To check in Reports for Other Information:

 

Step 1: Go to Reports > Sales > Analysis > Competitive Pricing (Other Information)

 

​

 

Step 2: Check & verify the details in Reports.

 


Conclusion:

 

We use this competitor's information to generate competitive pricing which helps in gathering & examining the data based on actionable insights in electronic business.

 

 

Related Links:

 

 

1. What is the purpose and benefit of Buyback claim? How will it work?

- https://help.retaileasy.gofrugal.com/Buy-back-claim-and-Exchange.html

 

2. What is the purpose and benefit of 'Suggestive Selling vs Items', How will it work?

- https://help.retaileasy.gofrugal.com/Suggestive-Selling.html


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