Figure out the right price
for your products
Have you ever asked yourself a question "How is my pricing?", "Are my prices OK?", "Should I lower my prices?" or "Is the price right?". It is good if your revamp your products prices from time to time. It is even better if you do it on a regular basis in order to keep your prices up to date. The most complicated part in this process is to figure out the exact right price for your product. Our Pricing research tool gives you quite unique ability to determine the right price for any of your products using market based pricing research. In other words, it answers the question "What is the right price for my product?".
Sound good, but how does it work?
First, you select a product from your shop for which you want to do a pricing research.
Second, you manually pick your direct product competitors using our built-in search form. You can use any keywords, styles and materials for search. The more similar products you will find the better. And here is the catch - all product competitors will appear with NO price shown. You will see the products titles and photos only. In addition it will show a country of origin (flag) as well as an indication of tags/materials match. Optionally you'll be able to see a pricing range (which is disabled by default). But still it's completely blind price wise. The goal is to allow you select closest product competitors based on the photo/title/tag/material match only. There will be no information about product price (except price range if you enable it manually). Yes, you'll have to do the job and exclude items which do not compete with your product directly. A better product competitors selection gives you more precise result in terms of right pricing.
Third and final step. After you are done with product selection (you will need to pick at least 25 and up to 250 items) just click on "Generate report" button. After that you'll be redirected to a market based pricing research analysis page. There you'll find all the information and charts for product competitors from your selection: price analysis (min/max/avg/median price), price distribution graph, listing
Price distribution
Renewal stats
Product competitors data
Keyword cloud
