Competitive intelligence empowers strategic pricing & packaging decisions. Pricing data of the competitors is one of the backbones of a well-crafted pricing strategy. However, there are two key challenges associated with gathering of pricing data depending on the business model:

 

1. B2C: The primary challenge of collecting competitors' data for B2C businesses is the data volume due to large number of SKUs.

2. B2B: The pricing data for B2B players are not transparent. Even if some might publish their list price, the discount rules are opaque.

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For most of the projects, Pricing Stratz utilises competitive intelligence among other data to develop value-based pricing strategy. In the few cases where the client do not possess sufficient competitive intelligence, Pricing Stratz leverages a mix of the following tools to gather competitors data:

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• Web scraping (mainly B2C): Gathering of pricing data of large SKUs from different online channels by leveraging technology 

• Automation (both B2B and B2C): Automated monitoring of competitors prices on a custom dashboard

• Mystery shopping (both B2B and B2C): Collection of pricing information by going through the whole sales process with key competitors