Once the data quality is satisfactory, the tool can be applied to all products in a store or catalog
Posted: Thu May 22, 2025 9:10 am
Identify problems and adjust your competitor price monitoring strategy
After testing a price monitoring strategy or working with it for some time, you may encounter problems that require adjusting the strategy.
For example, some products may run out at a competitor's warehouse, or one of the competitors may change its website. In such cases, it is necessary to analyze the reasons for the absence or inaccuracy of data and make a decision, for example, on the advisability of excluding a competitor from the price monitoring group.
Analysis and customization of the competitor price monitoring system from iDatica will allow you to keep the received data up-to-date. Later, you will be able to view fresh data at intervals of, say, two weeks, to set the right prices for goods in the store and gain maximum advantage in the market.
Step 6: Incorporate price monitoring into your daily routine
If you sell products in a highly competitive vertical, checking kazakhstan phone number list data at long intervals may not be optimal. The situation in such a market may require checking prices across the entire industry in near real-time. Therefore, monitoring should be done in shorter intervals.
Price monitoring software from iDatica tracks daily price changes. The data is displayed in one convenient dashboard, so you can see competitors' price changes at a glance.
This way, you can include price monitoring in your daily management tasks. By updating price information daily, you can identify opportunities or identify the need to adjust prices based on competitors' actions.
Benefits of Competitor Price Monitoring Strategy
Developing a competitor price monitoring strategy will provide you with important data that will help you make your products more attractive to more customers. To achieve this goal, you need to clearly define your brand positioning, identify competitors to track, and use the right price monitoring tools. By implementing an effective price monitoring strategy, you will be able to receive information about important changes in the competitive environment on a weekly, daily, or even real-time basis.
After testing a price monitoring strategy or working with it for some time, you may encounter problems that require adjusting the strategy.
For example, some products may run out at a competitor's warehouse, or one of the competitors may change its website. In such cases, it is necessary to analyze the reasons for the absence or inaccuracy of data and make a decision, for example, on the advisability of excluding a competitor from the price monitoring group.
Analysis and customization of the competitor price monitoring system from iDatica will allow you to keep the received data up-to-date. Later, you will be able to view fresh data at intervals of, say, two weeks, to set the right prices for goods in the store and gain maximum advantage in the market.
Step 6: Incorporate price monitoring into your daily routine
If you sell products in a highly competitive vertical, checking kazakhstan phone number list data at long intervals may not be optimal. The situation in such a market may require checking prices across the entire industry in near real-time. Therefore, monitoring should be done in shorter intervals.
Price monitoring software from iDatica tracks daily price changes. The data is displayed in one convenient dashboard, so you can see competitors' price changes at a glance.
This way, you can include price monitoring in your daily management tasks. By updating price information daily, you can identify opportunities or identify the need to adjust prices based on competitors' actions.
Benefits of Competitor Price Monitoring Strategy
Developing a competitor price monitoring strategy will provide you with important data that will help you make your products more attractive to more customers. To achieve this goal, you need to clearly define your brand positioning, identify competitors to track, and use the right price monitoring tools. By implementing an effective price monitoring strategy, you will be able to receive information about important changes in the competitive environment on a weekly, daily, or even real-time basis.