Retro payments
Retro payments are a pricing concept that refers to payments made after a product or service has been sold and delivered. This concept is relevant to both ecommerce and retail businesses as it affects their pricing strategies and financial performance. Retro payments can come in different forms, such as rebates, discounts, or incentives that are […]
Real time monitoring
In the fast-paced world of ecommerce and retail businesses, it’s essential to have a comprehensive understanding of the market and pricing strategies. One of the critical components of this understanding is real time monitoring. This refers to the process of continuously tracking and analyzing data related to sales, prices, and market trends to make informed […]
Product life cycle
In today’s fast-paced business world, companies must be able to quickly respond to market changes and adjust their strategies accordingly. One crucial aspect of this is managing their product life cycle, refers to the stages that a product goes through from its introduction to the market to its withdrawal. These stages include the introduction, growth, […]
Price war
A price war or price competition refers to a situation where businesses compete against each other by repeatedly lowering their prices in an attempt to gain market share and drive out competitors. The first step in developing a pricing strategy is to understand the market and the competition. This includes monitoring the prices of competitors […]
Price sensitiveness
Pricing in ecommerce and retail businesses is a complex and ever-evolving aspect of running a successful operation. One important concept to consider is price sensitiveness or price sensitivity, which refers to the degree to which customers are sensitive to changes in price. In other words, it measures how much a change in price will affect […]
Price point
Price point is a crucial factor in pricing within the ecommerce and retail space. Simply put, a price point is the specific price at which a product is offered for sale. In this post, we will explore how the price point of a product affects the overall pricing strategy for ecommerce and retail businesses. The […]
Price matching
The basic idea behind price matching is that retailers will match the price of a competitor’s product if a customer finds it for a cheaper price at another store. This helps retailers to maintain their competitiveness and attract price-sensitive customers. The practice of price matching is often used by big-box retailers such as Walmart and […]
Price lining
Price lining refers to selling different products at different price points to cater to customers who are looking for different levels of quality, convenience, and value. In this way, businesses can effectively reach out to a broader customer base and increase their sales and revenue. To understand the concept of price lining, let’s take the […]
Price elasticity
Price elasticity measures the change in demand when you change price of a product up or down. Price elasticity is an important factor to understand when you price your products. It helps you to set prices that capture the demand and let you optimize your market share. Price elasticity refers to the extent to which […]
Price band analysis
Price Band Analysis involves dividing a product’s price range into different categories, or “bands”, based on the price of the product. This helps businesses to understand how their prices compare to those of their competitors and how their prices are affecting their sales. By examining the different price bands, a company can determine which prices […]