Pricing Strategy Tool (CPI)

Competitor Price Index – Strategy tool



Do you ever wonder if there is any way you could monitor your pricing strategy in action; in real-time? To see how you are doing against competitors in total, per category, per brand or on a single product level? Or how could you automatically update the most recent events in the market in a simple number format? In short, yes, there is and we got it covered in Sniffie.

You are able to create and form your pricing strategy inside Sniffie with simple and understandable index. Set an index to position your company against your main competitors, their certain categories and make sure your strategic sweet spot is monitored at all times.

While you are still fighting also on a single product’s level, now you are able to monitor the market against competitors on different levels. Set indexes, see the changes and understand the market in a heart beat. Form automatically updating, higher level analytics that allows you to manage your pricing strategy on a brand or category level, so you can stay up-to-date with the bigger picture, constantly. Sniffie highlights your progress and completion to your pricing strategies, and to which direction you should divert to.

Three digit code that makes a difference

102 OR 98? .

With Sniffie’s Competitor Price Index (CPI) you can set your target pricing with three digits. 100 being equal, 102 being 2% higher and 98 2% cheaper, for example. That means that by setting an index to company, category, brand or product level you can control your pricing strategy against automatically the market or any of your competitors. All your strategies can be imported with a simple upload from Excel-file. Handy, simple and effective.

Main use cases:

1. Set your pricing strategy gateway ie. you want to be 2% higher always against your main competitor with 5% difference accepted to both ways.

2. Monitor per category how you are performing on average against different competitors

3. Set parameters on what is ok, acceptable and what needs your attention

4. Make sure you line up with the market with your pricing strategy

Benefits of Competitor Price Index (CPI)



Benefits of competitor price index are very clear when you pricing products on a grander scale. It is a tool specifically developed for people working with bigger categories that cannot be monitored simply with one product in mind. Competitor Price Index lets you set a strategy and monitor it on different levels.

1. Make your pricing strategy live

2. Monitor your pricing strategy on every level

3. See how different brands and categories perform

Are you ready to take your pricing strategy to the next level with Sniffie?