How to monitor prices
Create a special file or electronic program for local use, which will serve you as a template formonitoring butprices. This resource should include a list of the main commodity positions and services of your company, a list of competitors and the products they offer. Create convenient tables for benchmarkingprices. which will allow you to track the dynamics of the cost of similar products.
Highlight 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.
Identify 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 You individually, for example, by visiting a corporate website or point of sale.
Atmonitoring 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 marketing level for certain goods of other firms may be significantly lower.
Make graphs of changeprices by closest competitors. Analyze the dynamics and consideration of the main factors affecting the growth or decline in value. During the analysisprices try also to highlight the intended trading onprices ku For example, the official dealer of a large plant will always be able to offer a lowerprices do, than the wholesaler. Consider these factors.