Cosmetics is one of the hardest categories for price monitoring: dozens of sizes and sets, pharmacies and marketplaces, constant promotions. What a brand should track and how not to drown in false matches.
Dynamic pricing and competitive pricing - both strategies are responsible for maintaining product competitiveness and maintaining sales. However, they differ in their approach and focus.
Dynamic pricing, also known as active pricing, involves the formation of a product's value based on demand and/or time. It is a pricing strategy in which the price of a product or service is adjusted in real-time based on various factors:
Competitor Price Monitoring is the practice of actively tracking and monitoring the prices of your competitor's products or services in the marketplace. However, keep in mind that for other sellers, you may also be a competitor!
Rozetka and Prom.ua are the largest marketplaces in Ukraine. On each of them, dozens of shops sell the same product, and buyers see their offers side by side. If your price is noticeably higher, they may never reach your website at all.
RRP means the recommended retail price and MRP means the maximum retail price. RRP and MRP are retail pricing terms used to refer to the suggested or maximum selling price of an item.
