Value based pricing
Value based pricing is a pricing strategy that focuses on the value that a product or service provides to the customer. It’s about understanding what the customer is willing to pay for the benefits that the product or service offers. Instead of just looking at the cost of production, value-based pricing takes into account the […]
Promotional pricing
In the world of ecommerce and retail, the way a product is priced can make all the difference. One of the most common pricing strategies used by businesses is promotional pricing. This involves offering products at a reduced price for a limited time to increase sales. The strategy can be effective in generating a “hype”, […]
Psychological pricing
In the world of ecommerce and retail businesses one of the most intriguing aspects of pricing is the concept of “psychological pricing”. This involves using psychological triggers to influence customer behavior and purchasing decisions. For instance, ending the price of a product with .99 instead of a whole number is a commonly used technique in […]
Price differentiation
Pricing is a crucial aspect of any business, particularly ecommerce and retail. Why? It affects both customer acquisition and retention. One concept that has gained traction in recent times is “price differentiation.” This involves the practice of offering different prices to different segments of customers, based on factors like location, demographics, and buying behavior. […]
Price transparency
The concept of price transparency refers to the availability and accessibility of information about the prices of goods and services. In the retail and ecommerce industry, the practice has become a crucial aspect for both consumers and businesses. Impact of price transparency in ecommerce and retail pricing Consumers benefit from price transparency as it helps […]
Predatory pricing
Predatory pricing refers to a pricing strategy where a business lowers its prices significantly below the cost of production and sells its products or services, with the intention of driving competitors out of the market. This illegal practice can lead to negative impacts on both consumers and businesses in the market. Predatory pricing in ecommerce […]
Sales volume
In general sales volume refers to the total amount of goods or services sold over a certain period of time. It is a key metric in determining a business’s financial performance and growth potential. An increase in the volume indicates that a business is gaining market share, reaching new customers, or successfully promoting its products […]
Stock level
In general stock level, also known as inventory level, refers to the amount of a specific product or products that a business has on hand at a given time. It is a key metric in inventory management and helps businesses ensure they have enough stock on hand to meet customer demand without overstocking and tying […]
Pricing safeguards
Pricing safeguards refer to the measures that ecommerce and retail businesses take to prevent and detect illegal or harmful pricing practices, such as price fixing, resale price maintenance, and predatory pricing. These measures are put in place to ensure fair competition and protect consumers from harmful pricing practices. Pricing safeguards in ecommerce and retail In […]
Pricing rules
Pricing rules in ecommerce and retail Pricing rules refer to a set of guidelines or parameters that ecommerce and retail businesses use to determine the prices for their products and services. These rules are designed to ensure that prices are fair, competitive, and profitable for the business and they can be based on various factors […]