If coffee house X on the next block serves a 12-ounce cup of coffee for $1.39, can you get away with charging $1.49? Probably. But what if their price suddenly drops to 99¢? Unless you've got the best pancakes in town, you may have just lost a large chunk of your customer base.
Although a simplistic example, the question remains: How can I keep up with my competitors' prices so I can make strategic pricing changes? Answer: Implement a competitive pricing program.
Our shoppers will regularly visit your competitors and provide up-to-the-minute details on current pricing for the products and services you designate. We'll create key reports you can access online to show "matched baskets," variances, varietal, seasonal and regional changes so you will always be armed with the knowledge you need to adjust your pricing and market the value of your products over theirs.
And, if you claim you have the lowest price, it is a required substantiation practice by the Federal Trade Commission.
From real estate to luxury products to consumer goods, knowing your competitors' pricing will give you the edge you can't afford to be without.
