The Internet, after the wheel, has been the most important invention in history of mankind. Just like all other spheres of our lives, it has disrupted barriers across trade & commerce and left manufacturers with little or no control on the retail price of the product they manufacture. The ease of setting up an e-commerce /
marketplace venture has increased retail competition and vastly improved availability and access to products across the globe. This increased retail competition has had both brick & mortar stores and online retailers slash prices often by sacrificing margins and at times selling the product below cost price. Such practises lead to negative opinion in minds of consumers as they tend to feel cheated by the manufacturer. To gain control and protect their brand, manufacturers can make use automated web crawling technology and actively monitor prices of their products.
An automated and managed price monitoring service will allow the manufacturer to
1. Identify Sellers
On the Internet with marketplace model, there are thousands of sellers and it is not possible for the manufacturer to know all sellers. Our automated price monitoring solution allows the manufacturers to keep track of all sellers on multiple platforms.
2. Ensure sanctity of Minimum Advertised Price (MAP)
Many a times, manufacturers define MAP and trust sellers to respect this price. Unfortunately, MAP violations happen and products are under-priced to get volumes and sales. Such situations can be tackled by having an alert system wherein manufacturers are notified on MAP violations.
3. Monitor price wars
Manufacturers need to take control of price wars as that could result in loss of
trust with sellers and consumers. A rogue seller who may have dropped the price below the MAP could force other sellers to drop prices too leaving the manufacturer no way to identify when and who dropped the price first. Price monitoring service provides manufacturers the tools to ensure a level playing amongst sellers and avoid price wars.
4. Safeguard brand value
High variation of prices, negative feedback across distribution channels or grey market activity can inflict irreversible damage on the brand value of the product. By constantly monitoring products on the various online distribution channels and feedback platforms, manufacturer can take remedial corrective action and safe guard the brand value.
5. Strengthen business relationships
Enforcement of MAP by manufacturers promotes an environment of fairness and equality thereby strengthening relationships with seller and distributor networks. Swift action on violations also helps preserve brand image, boosts credibility and increases trust.
The automated and managed price monitoring service from ITSYS Solutions allows manufacturers to keep track of their products – both price and feedback across multiple online platforms and ensuring a healthy competition amongst its sellers without affecting their credibility. For analyzing your products catalog, schedule a free demo by visiting us at website-scraping.com