How to monitor prices
Create a special file or an electronic program for local use that will serve as a template for you.monitoring of aprices. The given resource should include the list of the basic commodity positions and services of your company, the list of competitors and the goods offered by them. Create convenient tables for comparative analysisprices. which will allow you to track the dynamics of value for similar products.
Select the circle of the main competitors of your company, whose activities directly affect yourprices New policy. Break them into several semantic groups. For example, close competitors,prices which you need to monitor constantly, and distant competitors, whose work you will control less intensively.
Define tracking methodsprices in key positions or companies. You can subscribe for a regular email newsletter price lists, which will allow you to be aware of any changes. Unfortunately, this method is appropriate not for all companies. In most cases you will have to track prices s on an individual basis, for example, visiting a corporate website or sales locations.
Whenmonitoring of eprices do not forget about additional conditions that may affect the final cost of the product. So, the official price list of the company can mean significant discounts. Be sure to consider these conditions, because in the end prices The level of certain products of other firms may be significantly lower.
Make a change graphprices on the nearest competitors. Analyze the dynamics and consideration of the main factors that affect the growth or decline in value. During the analysisprices try also to highlight the proposed tradeprices ku. For example, an authorized dealer of a large plant will always be able to offer a lowerprices y than the wholesaler. Consider such factors.