Category Archives: Retail Price Optimization

Price Wars, Part 3: How To Avoid, Handle, And, Maybe, Start A Price War

In Price Wars, Part 1, we said that “a price war involves two or more competitors lowering prices in multiple rounds in an attempt to win market share. A less formal, but more telling description of this kind of competitive pricing is: A massive transfer of wealth from sellers to buyers.” In Price Wars, Part 2, we talked about the negative effects...
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5 Secrets To Online Pricing That Will Maximize Your Sales & Profits

When customers look at online prices, which of the following do you think they’re most likely to buy at — $197, $195, or $199?  And when online customers see the following numbers — $166, $197, or $122 — which price do you think they will choose for their purchase?  You might be surprised.  The numbers you use in your prices matter a lot, accor...
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Terrific Pricing Video: 10 Important Things Retailers Should Know (And Do) About Competitive Pricing

What does Goldilocks have to do with half a car? Or Bart Simpson have to do with a pricing laboratory? Pricing strategies. At least according to Pricing Prophets they do. We chose this video because Pricing Prophets’ Founder/Managing Director, Jon Manning presents some of the best competitive pricing advice you could want, with humor and goodwill...
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5 Wizardly Ways To Maximize Profits With Truly Competitive Pricing

Utilizing competitive pricing intelligence to the fullest is much more than getting your competitors’ prices and information and then reacting to it. You have to look at your own pricing in new ways to find out where can you make money, save money, and increase your profit margins. And this race is a marathon you have to be in for the long run. H...
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3 Great Lessons On How Price, Perception, and Positioning Influence Each Other In Online Retail

Pricing correctly is one of the most important and most difficult aspects of any business, and for online retail even more so. With ever more transparency, customer perceptions will affect what kind of prices you can set, while, at the same time, your pricing will affect your customer’s perception and trust of you — and their ultimate buying deci...
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Tantalizing Ways Online Retailers Can Use Price Discrimination To Maximize Profits

Marketers can now plot the perceptions of each customer segment, and create different value propositions in which price will play greater or lesser roles. With price discrimination, online retailers can maximize profits by monitoring how the customer comes to their website and collect the top dollar according to perceptions of how much the customer...
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