Pricing Vocabulary and Terms
The Sniffie Pricing Vocabulary and Terms is a collection of essential vocabulary used in retail and ecommerce pricing and marketing products. The pricing vocabulary is a brief overview on how the terms are defined and how to use different terms and techniques in pricing.
Articles

Advertised Price used in Campaigning
Advertised Price ADVERTISED PRICE IS A PRICE USED IN ADVERTISEMENT. It is a price that is advertised by the retailer or eCommerce site in any

Bundle Pricing
Bundle Pricing BUNDLE PRICING IS A SIMPLE TECHNIQUE TO COMBINE PRODUCTS AND SELL THOSE AT A LOWER PRICE PER ITEM. It is a simple pricing

Competitive Match Pricing Methodology
Competitive Math Pricing Methodology COMPETITIVE MATCH PRICING METHODOLOGY IS CHANGING PRICES ACCORDING TO MARKET CHANGES This means using competitor pricing as a basis of setting

Cost Price
Cost Price COST PRICE IS SIMPLY THE TOTAL AMOUNT OF MONEY A MANUFACTURER WILL SPEND TO PRODUCE A PRODUCT OR SERVICE. It is the total

Cost Pricing or Cost Plus Pricing
Cost Pricing or Cost Plus Pricing Cost pricing is used for pricing multiple items at the same time where conventional pricing methods won´t be feasible.


Custom Value in Pricing
Custom Value in Pricing Custom value is a pricing method that´s used with customized products. Whether you´re selling cars or cakes, customization can add lots


Discount Containment
Discount containment When creating a discount, having a proper discount containment strategy is essential. If there is one thing that all customers have in common,


Dynamic Pricing and Dynamic Reacting in Pricing
Dynamic Pricing DYNAMIC PRICING MEANS THE RETAILER IS AGILE REACTING TO PRICE CHANGES USING COMPETITOR PRICE MONITORING It is in a general sense, the practice


Ex Works Pricing (EXW)
Ex Works Pricing Ex Works Pricing is used when buyer collects the goods from the sellers warehouse. The goods are then sold without any transportation.


Expert Judgment in Pricing
Expert Judgment in Pricing Sometimes, getting an expert judgment in pricing your products is the wisest thing you can do. In some cases, pricing your


Incremental Customer Value
Incremental Customer Value Incremental Customer Value in Pricing is the increased revenue resulted by the price increase for any given reason. This is also known



Incremental Pricing Revenue
Incremental Pricing Revenue The Incremental Pricing Revenue is the increased revenue resulted by the price increase for any given reason. Incremental pricing is a pricing


Initial Markup or IMU
Initial Markup or IMU The initial markup is a term used to describe the markup percentage you are using when pricing your products. Initial markup


Key basket in Pricing
Key Basket in Pricing Key basket in pricing is a group of important products that are chosen to represent market in some way. Key basket


Key Value Items (KVI)
Key Value Items (KVI) Key value items are products that make a significant contribution to the overall sales of a business. In most cases, there


Keystone Pricing
Keystone Pricing Keystone Pricing is a method where every distribution level doubles the price of a product. If you’re in retail, keystone pricing is a


List price
List Price The price that is advertised as the official price for the product. Usually called the original price or often referred as the manufacturer’s


Manufacturer’s Suggested Retail Price (MSRP)
Manufacturer´s Suggested Retail Price Manufacturer’s Suggested Retail Price is a price the manufactures believe that the products should be sold for. In this amount, the


Market Pricing
Market Pricing Market pricing correctly is vital because customers are always looking for the best bargains. Competitive price is done by finding the exact price


Markup Pricing
Markup Pricing The markup pricing is a technique that’s used by retailers to price multiple products quickly. Also known as cost-based pricing works by adding


Minimum Advertised Price (MAP)
Minimum Advertised Price (MAP) Minimum Advertised Price is a price that is given to retailers by producer of goods MAP is the price that retailers


Minimum advertised pricing strategy (MAP)
Minimum Advertised Pricing Strategy (MAP) The minimum advertised pricing strategy is a strategy where brand owner or producer keeps their end selling prices at a



Nonlinear Pricing
Nonlinear Pricing Nonlinear pricing can be used as a broad term to offer discount schemes where different pricing bundles offer higher total revenue for the



Odd Pricing
Odd Pricing Retailers use odd pricing to create psychological feeling that a price is lower than it actually is. Odd pricing is a psychological pricing


Original Price
Original Price The original price is used to show what was the original price before price decrease (discount, price change etc.). The original price is


Parallel Export
Parallel Export PARALLEL EXPORT IS WHEN A RETAILER BUYS MORE MERCHANDISE THAN THEY NEED AND SELL THE THE EXCESS FOR OTHER RETAILERS. This is a


Penetration Pricing
Penetration Pricing Penetration pricing is a pricing strategy that’s used -as the name suggests- to penetrate a new market. Getting a foothold in a new


Pocket price
Pocket Price Pocket Price is the price from which all discounts, retro payments, coupons etc, that are offered to the buyer, are deducted. The pocket


Premium Pricing
Premium Pricing Premium pricing means a retailer is consistently pricing their product higher due to competitive advantage. It is mostly used when a company has


Price Band Analysis
Price Band Analysis Price band analysis is used to distinguish the net prices paid per customer. The Price Band Analysis also describes the segments and


Price Elasticity
Price Elasticity Price elasticity tells you how much a price increase or decrease will impact on the demand of a product. TRY OUT SNIFFIE Overview


Price Lining
Price Lining A comprehensive guide to everything that you need to know about price lining. Price lining, also referred to as product line pricing, is


Price Matching
Price Matching A comprehensive guide to everything that you need to know about price matching. Today we are heavily relying on eCommerce stores where we


Wholesale price
Wholesale Price Wholesale Price is the price that a retailer is paying for the wholesaler when buying a product. As wholesalers buy the products from


Sniffie & Christmas
Christmas Is Almost Here The Sniffie-team is preparing to wrap up this year as it is almost time for Christmas and Christmas holidays. The year


Product Release – General Widget
NEW: Vastly improved analytics capabilities! We at Sniffie are beyond excited to tell you about our newest product release which includes the biggest improvements to


Investigating connection issue
We are having some problems with one of our servers, resulting in connectivity issues with some accounts. Our engineering team is resolving the problem.