Price Check Audit
Price checks are used for two purposes - Measuring channel pricing for own products in order to drive pricing discipline, or measuring pricing of competitors to create pricing strategies and schemes and offers. Enforcing pricing discipline in the Channel is critical for avoiding customer confusion, for discouraging price-hunting shopping behaviour among customers, and for maintaining the channel's financial interest in proactively and enthusiastically selling a brand's product.
Service Details
Price checks are used for two purposes - Measuring channel pricing for own products in order to drive pricing discipline, or measuring pricing of competitors to create pricing strategies and schemes and offers.
Enforcing pricing discipline in the Channel is critical for avoiding customer confusion, for discouraging price-hunting shopping behaviour among customers, and for maintaining the channel's financial interest in proactively and enthusiastically selling a brand's product.
Field Mitra conducts what are called Price Checks or SRP (Suggested Retail Price) audits or MOP (Market Operating Price) audits in which a customer attempts to purchase a product at the best possible negotiated price. If the price offered violates a brand's pricing guidelines, brands can use various incentivization/disincentivization methods to bring partners back in compliance.
A similar process can also be deployed for competitor products with the goal of discovering their pricing strategies and promotional schemes and offers.
The benefits of delivering a great price check audit :
-
Identifying SRP (Suggested Retail price)/ MOP(Market Operating Price)
-
Evaluating Discounting Patterns.
-
Evaluating Schemes & Offers for Competitors & Own brand
