Benefits of Using eCommerce Price Monitoring
Small sparks could potentially lead to big changes. The chain reactions also have the tendency to start with small changes and could potentially lead to drastic changes which could also affect others. This actually is true on the online retail industry.
There are a lot of changes in eCommerce. Each day, retailers will actually modify prices, discounts, costs and much more. All of it are designed with positive intentions, but the thing is, they affect unintended stakeholders like manufacturers where they buy products. When the retailers have hard time to cut out the costs and depleting margins, manufacturers pays the price.
In order to protect the price of items and uphold brand equity, manufacturers implemented the Minimum Advertised Price (MAP) policies. The agreement between manufacturers and retailers which establish a price floor which retailers could not advertise. The automated Amazon price tracking is in fact the best way to go for and below are some of the reasons why.
Preserve on the Brand Value and Price Perceptions
If you ever pull back data in real time, you could potentially stop future MAP violations from ever starting through MAP monitoring. This will actually help to uphold brand value and also the price perception as the manufacturer. In case a retailer will drop the price of the products, there are actually a lot of people who are actually destined to follow it. If that ever happens, your brand will be cheapened by various retailers.
When you will going to catch different MAP violations after they occured, the consequences can really be hard to erase. Once that you have caught different MAP violations after this occured, consequences can be hard to erase. Consumers tend to notice price increase frequently as the price decrease and if they notice that the price of the products goes up after it has been discounted for a long time, negative consequences then may ensue.
Improves Future Business Relationships
When you give the MAP policy with some enforcement, you will then be able to improve negotiations with retailers. When you catch MAP violations after this has occurred with automated price monitoring system will not make the MAP look flimsy towards retailers. A retailer is going to understand that they will not acquire a short end than the competitor and will also not accuse you to selling products with different terms and prices.
The negotiations will not just be smoothened, but competition could become less intense as well. When you ever stop on the MAP violation before it becomes later could help to curb the price wars and to extinguish a competitive war of the retailers.
The automated Walmart price tracking solutions are going to give product prices support for them to prevent future price wars. On the automated price tracking solutions, manufacturers will rest easy knowing that MAP violators will automatically be dealt with.