Review Price Suggestions

Price Suggestions

After we have the data on the products of our client, the products of the competitors, the relations between them and a configured pricing strategy, we can help our client to change the prices in a faster way, by applying the pre-defined rules of the assigned tactic.

After we have calculated suggestions for the products with relations, we show them in our solution. Our clients have the option to accept or reject the suggested price.

They can also click on a product to see some extra details that may be relevant on their decision, the data will appear in a window that will be similar to this:

Price History

In the previous section we explained the process of Price Suggestion and that was mostly based on the actual price of the competitors’ products, in a lot of cases it is useful to see the historical prices as well in order to get a better intuition on the price changes. This is possible by clicking on the Price History on the pop up window of Product or Price Suggestion, after clicking we will see a graph that shows us the historic prices on weeks or days.

Exception Management

Our clients usually have some products that are more specific and should have specific prices that don’t exactly fit in on their tactics, this is the reason why we developed the Exception Management Module that will enable creating exceptions for those products. We have 5 types of Exceptions that our clients are able to apply to their products:

1. Exclusion - products with this exception will not be used in the Price Suggestion Module on future runs until the end date (if specified).

2. Manual Price - the product’s price will be manually set and it won’t change in future runs until the end date (if specified), regardless of competitor prices.

3. One Time Manual Price – the product’s price will be manually price, this will apply only on the next Price Run

4. Step Wise Price – the product’s price will be changed in a step by step way in order to avoid drastic changes in price. If you want to raise the price from 1.5 EUR to 3.3 EUR, it may be a good idea to raise it by 30 cents every two weeks, since a price raise of 1.8 EUR may disrupt your sales.

5. Comment – this will not affect the price of the product, but it is useful if you want to include some additional information until the end date (if specified) about the product that you think other users should know

After creating the exceptions, they will also appear on the Price Suggestions: