Price Monitoring

Price monitoring called also price intelligence. It is possible that can see as competitive price monitoring on the many platforms. As shortly as the price monitoring is the analysis of internal and external variable prices in order to optimize one’s pricing strategy. Trough to price monitoring, we can check and analysis the competitors prices to date, real time. We can see “retail monitoring” on some platforms too. We can see that, there are 3 strategies for price monitoring.

a. learning of the price and product policy of the client’s company. Also, learning about the features, industry and business.
b. The testing, training and certification about the auditors.
c. Setup-Install and preparation of the price monitoring software.

a. Visiting of the retail outlets.
b. data collection

a. Analytic reporting as online in the personal account of the company.
b. The reports for the photos, Powerpoints, Location, Excel which has location, address etc.

The price monitoring provides us a useful system which we can check the products, brands, categories, costs, Promotion, shelf life. Also extra infos which we need.

1. We can evaluate the price and products, policies of the other company and our opponent.
2. It is possible that monitoring and checking of the promotions, special offers.
3. We can follow and track the market conditions and market situation in the bazaar.
4. We can check and control the sales points of the special goods and equipment. Also, we can manage the goods movement in trade.
5. The conditions of the suppliers and dealers can be optimized better cooperation.
6. We can check and analyse of the stocks. We can learn and analyse availability of the stock endorses the location of the products.

As Internal Analysis: When we check and monitoring the ore price history, we can make a good market strategy. Due to price monitoring it is possible that we create a strategy with the product rotation and brand value. So, the price monitoring helps us that we make the best pricing strategy and rules, also maximize the profit.

As Market Competition Analysis: As we think competitive price monitoring allows us to obtain competitors’ information. So, we can guess the our competitors’ strategies. This information is very important in the marketing reports. Based on collecting ınformation and data like price and the ratio of the products, our target groups, etc., we will have an idea about the our market position.