Top 6 Pricing Methods
to Become a Retail Winner
Companies have a variety of pricing methods to choose from that are
founded by either a single or a mixture of one of the umbrella terms: cost,
demand, and competition. But what exactly is a pricing method?
How to choose the pricing method?
Why choose Competera?
Competera is an all-in-one pricing platform with a disruptive pricing approach leading to touchable results for omnichannel retailers.
Forget the manual analysis of cross-product dependencies. Switch to category-level pricing with algorithmic price recommendations driven by demand patterns for each repricing cycle.
An efficient and fast pricing management for any number of price lists. A powerful alternative to time-consuming and sporadic traditional repricing.
Repricing takes not more than four clicks for any pricing scenario. Competera doesn’t require specific skills and can be mastered in hours.
What are the main strategies and pricing tactics?
Which pricing method is yours?
Become a retail winner by selecting the right pricing strategy for products or a combination of them. The six top ones include cost, demand, competitor, value, psychological, and product based methods.
When businesses utilize this pricing method, they are taking into account the prices of their rivals in order to determine the price of their goods. It’s up to them to price it either higher, lower, or just as their competition has the item priced.
This can be seen with airplane ticket prices. The price tends to remain very similar across all airlines. It’s typically accomplished with the help of pricing software, which helps automatically track the prices of rivals.