How to Control Your Product Prices at Retail Outlets?
Do you have difficulty controlling the prices of your products? Do you want to track and analyze the current prices of your products and competitor products at the points of sale? Do you want to ensure that your products are sold at the branch and at the prices you set?
In this article, you will learn how to analyze, control and transform your product range prices across all your retail outlets into something sustainable and manageable.
For each product in your product range, the branch and shelf is its own market. Of course, there will be competitors in the market. This plays a key role in determining the price of the product.
Comparing the prices of your own and competitors’ products and ensuring price balance accordingly increases your competitiveness in the market. It affects sales positively.
However, it is not enough just to check the prices of competing products. You should also make sure that the products and branches you have identified are sold at the prices you want.
Price analysis, control and management are critical for a business. It needs to be monitored every day or every week.
However, when your product range is large and your sales points are in different locations, you need software to manage the entire operation.
Three-S field team management software, let’s see how you can easily manage the entire operation mentioned above in 2 steps and provide control by analyzing it in depth.
#1 See which own and competitor products are sold, in which branch, at which price
You can optimize prices more efficiently by easily analyzing in detail how often and at what price both your own and competitor’s products are sold in which branch.
#2 Catch the price trend
You set a price range for retail outlets to find out which product sells better at which branch and at which price. For example, for a product, min. 9₺, max. 15₺ price range.
With the data collected from the field, you can track which product is sold in which branch and at which price. Thus, based on weighted average prices, you can determine the better selling prices and reveal the right prices.
This data will be used to develop the market-leading Three-S merch application is collected when your field teams enter product prices into the system during their point visits.
The Three-S Desktop application, developed for managers at the center, processes this data and enables you to obtain reports that can be shaped according to your needs.