#intelligence node

Your brand’s reputation is at risk.

And so are your profits.

With the precarious state of today’s e-commerce landscape.

Thousands of unchecked resellers are selling your products at below MAP.

Such activity harms the value of both individual products and the brand as a whole.

The retail giants are not doing enough to prevent infractions of MAP policies.

A lack of MAP compliance discourages customers from staying loyal and paying full price.

There’s a serious need for brands to enforce a MAP policy to monitor resellers.

Agile product pricing strategies is one of the biggest questions retailers face.

The relationship between an item’s price, its quality, and perceived value to consumers is oftentimes the deciding factor whether purchase ever takes place.

In such an increasingly crowded marketplace, the concept of cash cow marketing has been called into question, leaving sellers in the eCommerce space and beyond to reevaluate how they approach their respective businesses.

Fortunately, the Price Quality Matrix presents a simple way to leverage product value and address the pricing dilemma head-on.

Now, the question is what is the Price Quality Matrix?

By determining the position of your products or services relative to the competition, retailers can use the price and quality of each item to identify where they stand in the market.

Of course, this knowledge can then be incorporated directly into your decision-making process when it comes time to devise a pricing strategy.

Just think of it as another way to assess your relevance in today’s fast-paced and ever-changing business landscape.

The average person’s attention span is 8 seconds or less – which, remarkably, is shorter than the attention span of a goldfish!

65% of individuals say they’re visual learners.

Visuals increase message retention by 42%.

BOOM!

That’s how immediate the impact of visual merchandising is on retail shoppers – and why effective visuals are a strategic asset in omnichannel retail.

Visual merchandising presents a retailer’s physical store or e-commerce website in an enticing way to attract customers.

Yet the objective isn’t just to look alluring – it’s to fuel retail purchases.

In our age of digital and social media, visuals matter.

Pricing is a complex subject.

It requires a thorough understanding, yet it is massively important.

If you set it right, the sales and profit will flow.

Get it wrong and, well, you know, you’re doomed, to put it mildly.

Your pricing affects everything, from profit margins and sales to brand positioning and market share.

So, what’s the trick?

How do you implement a pricing strategy that conveys everything you want to stand for as a company while bringing in profit in the process?

Businesses have the luxury to choose from a variety of pricing strategies, depending on the goals and objectives they set.

Of course, none of those matters if they are not based on market research and customer demand.

It is vital to understand who is your target audience and competition, only then will you be able to utilize an effective pricing strategy.