Monitor the Web to Prevent Your Brands from Being Victimized by Price Erosion
Industries Involved: Retail, Manufacturing and Automobile
Goal to be achieved: Appropriate use of data to fight unwarranted price erosion
Data: Pricing information from various and relevant websites collated together and presented in the most comprehensible format by companies offering Data as a Service.
- Fierce competition among online retailers have pushed them to price products way below the manufacturer recommended price points.
- Such unauthorized slashing down of prices results in tarnished brand image and the brand will no more be considered a premium one.
- Slowly, eroded prices become the standard identity of the brand and start eating into the overall revenue of the company.
- In order to proactively manage the pricing limits of sales channels (both online and offline), businesses must monitor the web.
- But monitoring the web on a real-time basis, unauthorized flash sales, undiscerning shopping cart discounts can be prevented.
Solution and benefits: Data extraction services from companies offer Data-as-a-Service. The task works better when outsourced to professionals. When the appropriate data is in hand, then there is better control over all sales channels as well as on brand perception.