While selling online and offline, brands need to pop up with different pricing schemes and policies for their potential customers. In this case, brands generally look for better mechanism tools to rectify how to price their products according to the marketplace. There has been a time when brands and retailers who started dealing online had confusion in pricing. Earlier, walk-in customers used to see the price tags and move to their decision. But with time, the scenario has changed.
Across the Channels
An online business pricing system is a well-researched system that determines how accurately you call deals and benefits while staying critical. Web-based business measurement strategies are used depending on the type of product being sold, the interest in the item, and the future assumptions considering the customer’s response.
Nowadays, customers are exposed to such tools which create queries and confusion regarding brands pricing. Also, this disconnects few buyers from the brands. For this, maintaining the price of the product across the channel is done effectively. Especially for e-commerce, maintaining product pricing means deciding the price of a certain product after researching on customer, competition, and product. etraKY BS for you works on the pain areas to make your pricing-related issues simpler and relevant.
Brand Requirement for Better Product Pricing:
Sometimes, sellers deal on a product’s brand at a lower price than authorized ones. This practice is commonly performed at the time of less surveillance on online platforms. But as this activity affects the pricing policies of the brand, it also gives a wrong impact on the customer’s mindset regarding the same. This is why it is crucial to keep a check on these malpractices. Hence, we provide a 24\7 watchdog feature that gives an assurance to the brands to have full control over every seller operating system on different online platforms to deal in your products. We breach those sellers and bring out a full researched report that clearly shows when this activity has taken place and by whom on a worldwide basis.
With the emergence of digital technology, Omni channels have made a different space of growth. Every brand and seller has adopted the processing of omnichannel. At the same time, omnichannel has also created a few struggles from the customer’s side for online brands. Likewise, customers are now aware of price variations available on online platforms. If a seller has decided a certain price for the product, they need to be specific while making the final decision. Because every seller has offered a different price on different online platforms, this makes it difficult to maintain a standard pricing of the same product on different e-commerce platforms. etraKY BS has a method of preparing the product’s pricing as compared to the existing ones. We provide analytics to give you an idea to decide an effective and eligible price from a digital platform point of view. This feature is designed basically to make it easier and impactful for selling purposes online with fair profitability.
Pricing is always different on online and offline mediums. If a brand product is available offline, its price would be more and exactly opposite in case of online products. This is because offline selling capital results are higher than the online ones. Hence, brands can not afford to offer a lesser price for the same product in offline mode. As offline products get offered costlier than the online products, customers prefer to go for online purchases. But, in the case of online selling also, the rise of online competition creates a scope of loss in sales because of price conflicts. This leads us to perform an analysis of the dynamic pricing of a certain product in favor of the brand. Taking into consideration, etraKY BS acknowledges what should be improved to get your product on Buy Button. Also, the cost price needs to be met, this is why we consider each and every segment of e-commerce marketing to fulfil the desired selling rate for online brands.
While pricing the product, a method or model needs to be followed. Here, we are talking about the technique of considering the wholesale price, revenue sharing contract, shipment, fee charges, etc to decide a fair price of a product. This is how a price is being decided for a particular product as these factors play an important role. etraKY BS functions to make sure that a brand’s product searched by the customer should rank at top of the share of the search list. We concentrate on minimizing price conflicts which is always an ongoing process in eCommerce. We make comparisons between the end-customer pricing from all the channels to encourage a standard fair price for you.
etraKY BS works for favoring the brands from their sellers’ activities. Also, we provide shield protection on a cloud-based mechanism that is primarily designed to provide the fastest and finest control over online activities regarding your product. In this, we understand your concern to get a fair deal and response from the customers’ side. Therefore, we provide you a comprehensive report of the price offered by all your authorized sellers, existing competitions status, highest-ranking seller and brand details, etc to help you make efficient marketing strategies. We also look upon unique promotional tools offered by the seller on online platforms. This feature ensures better control and discipline in the marketplace. When you trust us, you get anything and everything globally on a real time basis making it all profitable and fair lacking nowhere behind.
Customers are smart enough to make a comparison between the price offered and the price relevant for a certain product. If any brand or seller tries to bring the product out in the market at a high price, there would be a risk of losing potential customers. This would also create an issue of trust between the sellers and the target customers. Price creates a direct impact on customers. etraKY BS, being a brand-friendly software has a focussed ambition to maintain a fair price policy for a brand. Also, if a seller offers a price without the consent of the brand, this may create a huge problem for the brand itself.
We understand the importance of bringing things up on a scale. This is why etraKY BS is the highest chosen eCommerce tracking software. In the product pricing mechanism, full-proof data analysis and the fastest rate with accuracy is a much-needed thing. Here, at etraKY BS, we offer a central control over just a few clicks to know about the happenings with respect to the market, associated sellers, product performance, reason for the low sale, unique promotional ideations, and so on. This is to let you not miss any such step towards your enrichment of productivity and policies. As discipline is important in marketing, we deal to ensure the same to you on every parameter.