The Importance of Pricing in the Marketing Mix
Spend enough time in ecommerce, and you’ll encounter the “Marketing Mix” — Product, Place, Promotion, and Price. These 4Ps are the foundation of effective marketing strategies, each serving a unique role: And then there’s Price — arguably the most powerful of them all. Why? Because price directly impacts consumer behavior and immediately affects your bottom […]
What is Surge Pricing – and is it Appropriate For My Business?
What is surge pricing? Surge pricing happens when a company raises its prices due to an increase in demand — and lowers them when demand weakens. It’s a dynamic pricing strategy that adjusts pricing in real time based on the current market environment. But what is dynamic pricing? It’s exactly that changing in prices based […]
What is MAP Pricing and is it Legal
Ever wonder why certain products never seem to drop below a specific price point, even during sales? Or why some brands maintain consistent pricing across multiple retailers? It all comes down to MAP pricing. MAP (Minimum Advertised Price) is a policy set by manufacturers that dictates the lowest price a retailer can advertise for a […]
What is RRP Price and When to Use it?
Pricing is tough, even for the most seasoned business owners. Valuing your products while meeting customer needs is an ongoing challenge, especially in a fast-evolving marketplace. One approach that businesses have relied on for years is RRP (Recommended Retail Price). It’s a pricing strategy that helps you remain competitive while capitalizing on existing market conditions. […]
How to Monitor Competitor Pricing on Shopify
Effective price monitoring helps you stay competitive, maximize profits, and quickly adapt to market changes. Let’s explore how you can monitor competitor pricing on Shopify and use that data to drive your business forward. Why bother with competitive price monitoring on Shopify Stay competitiveIn ecommerce, pricing is often the deciding factor for customers when choosing […]
What is Ecommerce Dynamic Pricing?
Ecommerce dynamic pricing is a strategy that automatically adjusts product prices in real-time based on factors like market demand, competitor pricing, and customer behavior. This pricing approach helps businesses remain flexible and competitive by continuously optimizing prices to reflect market conditions. What does dynamic pricing mean in ecommerce? First of all, what is dynamic pricing? […]
How to Appear First for Google Shopping
Appearing at the top of Google Shopping results can significantly impact your ecommerce brand’s success. With shoppers gravitating toward the first few listings, it’s crucial to optimize your products to increase visibility, drive traffic, and boost sales. Here’s how to leverage Google Shopping Optimization to secure top placement. Why Google Shopping optimization matters Boost visibility […]
Why You Should Be Price Tracking Your Resellers
Your pricing strategies aren’t the only ones that matter — what your resellers do with your products is equally important. Resellers play a significant role in how your brand is perceived in the market, and if they are not pricing products correctly, it can lead to issues that impact your bottom line. That’s where reseller […]
How to Optimize Google Shopping
Every brand at scale is using Google Shopping to get more visibility on their products. Is it worth spending the time to optimize Google Shopping campaigns though? In short — yes. Optimizing your campaigns helps increase visibility, attract quality traffic and make sure you’re making the most of your ad spend. By regularly monitoring your […]
What is Strategic Pricing – and Why Is It Important?
Pricing is one of the most powerful tools you have to boost profitability, but strategic pricing takes it to the next level. It’s about creating conditions where more profitable pricing outcomes naturally occur. So, what exactly is strategic pricing? Some define strategic pricing as value creation. Others call it competitor awareness or setting price bands. […]
