Benchmark Prices

Netrivals provides your product and marketing team with all the benchmark prices information of your competition that allows you to evaluate how competitive their products with similar characteristics to yours are sold in the market.

For instance

This benchmark prices information will help you determine if changes are necessary on both strategy or brand level. In the same way, you can learn the placement of your brand in the market with the Netrivals market research module. This will also help you determine the prices of your products according to the place in the market where you want to be.

Monitor similar products

With Netrivals you can monitor not only your products, but also similar products from other brands. Through smart connections you can tell which are the products of your competitors that are most similar to yours. In the same way, you can evaluate your position in the market and see where your brand is positioned. Quickly and easily analyze how competing brands’ products are sold in distribution channels compared to yours. Quickly view minimum, maximum and average prices, and estimate the real value of your products in the market by doing a benchmark prices analysis.

Discover if the price of your products are correct for your market

Evaluate the price and the evolution of the prices of the products that can be substitutes for yours to learn the degree of competitiveness of your market.

Evaluate your pricing policy according to the benchmark prices analysis results that you have carried out:

  • Penetration strategy: if you are introducing your product into the market using a low price policy for faster acceptance of your product. Remember to verify that your minimum price is respected by using a MAP price software & MSRP Monitoring tool.
  • Alignment strategy: establish a similar  price to that of your competitors and study the changes and their effects.
  • Selection strategy: if you want to differentiate yourself with high prices to increase the exclusivity of your brand, you must know the price of similar products on the market and differentiate yourself from them. Carry out a benchmark prices analysis to obtain all the information needed.

Analyze the price elasticity of your product with by carrying out a benchmark prices analysis of your competition

Keeping the price policy you have defined, you can test price changes to see how far you can increase and decrease them according to your benchmark price analysis. When conducting these experiments, the prices of substitutes must be taken into account so that there is no shortage of variables during the test.

Sound data-driven decisions can only be made when we take into account all the factors that affect demand. Thanks to our solution you can have a complete view of the market.

Sound data-based decisions can only be made when all factors affecting demand are taken into account. Thanks to our solution you can have a complete view of the market.