On the right hand side of the Strategy page you can define the following criteria:
- Discount same condition: this is the discount to apply when your product is in the same condition as the one of your closest competitor (e.g. for £1, enter 100)
- Discount lower condition: this is the discount to apply when your product is in a lower condition than the product of your closest competitor. For instance, if your product is in « Very good » condition and your best competitors’ is « Like new » and if you choose a « lower condition discount = 200 », your price will be £2 lower than the price of your competitor. E.g. for £1, enter 100
- Premium better condition: this is the premium to apply when your product is in a better condition than the one of your closest competitor. (e.g. if your product is in « very good » condition and your closest competitors product is in « good » condition, and if you have defined a « premium better condition = 200 », your price will be £2 higher than your closest competitors price (i.e. for £2, enter 200).
In some cases, you will want to ignore some of your competitors when they are selling a product in a lower condition than yours. If you only sell new products for example, and do not want to compare them with used products, leave this field empty.
- Excluded competitors: you can exclude up to 3 competitors from the optimum price calculation.
- Value of your customer feedback: if you have a better customer feedback than your closest competitor, this is the value that you give to each additional percent. For example, if you indicate the value of your customer feedback to be 10p and your service is evaluated by online buyers to be 96%, and your closest competitor has a rating of only 90%, your product price will increase by 60p (10p x 6
Take note however, that the value of your customer feedback will be added to existing online prices. For example, even if you have chosen a pricing strategy to be 1p below your competitors, and yet the value of your customer feedback is defined as 50p, many of your products will be priced 49p higher than your competitors’.
- Value of your sales promotion: if you decide to carry out a sales promotion (e.g. you add a free product, or you refund the delivery costs), you can enter the monetory value (in pence) of your sales promotion, justifying your higher selling price.
- You would like to sell for more expensive than your Top price if possible: in some cases the prices of some competitors will be higher than the top price you have indicated. If you have chosen this option, your price will automatically be adjusted according to your competitor’s prices (even if the price is over your top price). On the other hand, if you have not chosen this option, your price will never be higher than the top price you have indicated.
How are my prices calculated if I have not defined a pricing strategy?
If some of your products do not correspond to existing product lines for which you have already defined a pricing strategy, Sellermania will indicate your top price as the selling price. For example, if you have only defined a pricing strategy for « music », and yet you also have DVDs in your inventory sent to Sellermania, the selling price of your DVDs will remain the same as indicated in your initial inventory file.