Learn how to connect your products with similar products from competition in different distribution channels
Get to know the market’s value for a certain product
It is also interesting to find out the value a certain product has in the market. As you cannot know the MSRP of your competitors, you can look for the sales prices of it over the different distribution channels. This can give you a broad insight about the status of the market and the value perception of a certain product in it.
To do so, you just have to go on the Direct Web menu, and click afterwards on the Rivals comparative submenu. On ‘Equivalences’ section you can see all the competitors’ products that are similar to yours. This section is to add more competitors’ products to your database. You need to add it manually and provide the same information as for your products.
Who is he cheapest?
On the section called ‘My brand compared to my rivals‘ you can see the value of your rivals products compared to yours. You can get to see which store sells it cheaper, what is the minimum price for it as well as the price difference compared to your product.
Here in this section, you can see a graph that changes according to the parameters. You can see it first by ‘AVG Cheapest prices‘ (average cheapest prices), Another option is ‘First positioning by brand‘, that is what brand appears in the first position more times on the distribution channels. The last one allows you to see what are the cheapest distribution channels where you are selling.
At last, the Rival products allows you to have an overview of the rival products you have added to your catalog manually. The table provides you with the range of prices in the different retailers where they are sold. The number next to the thunder indicates the number of retailers that are currently selling that product.
If you click on a product, you will see a product detail page of that product. You can see here if that product is available in stock or not, its price and the price difference compared to your product linked to that one.