Price Checks
Price and promotions captured in-store on a daily basis allowing to accurately monitor your competitors pricing strategies and promotional activities.
Knowing your competitors prices are important in the marketplace. It helps to know you are pitching your prices correctly and monitors any massive changes and offers you need to know about.
Once you know these prices the formula to work out value based pricing is quite simple really - take whatever your competitor is charging and add how much the buyer values what you do better, then minus how much the buyer values what your competitor does better. Simple, maybe not in reality but at least you can work from proper numbers when you have done your price checks.
Ok, sometimes you may only be able to get a list price and with that you have no idea how much they discount off that price, but this is still helpful as you can apply your industry standard discounts.
At inside tracks we can check competitors prices for you, compare them to your own organisation and make suggestions where to pitch your prices. No job is too small so please just call us to discuss your needs.
We can also check that your price changes have been carried-out/adhered to in store, to save you a lot of hassle yourself and ensure your customers are paying what you need them to.
Ask us for more information.
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