My Price is… – New column added to the Price Matrix Report
The way you were able to determine your position among the competition before was Price2Spy Colour code – green stands for cheap and red for expensive. Now as the new column has been added to the Matrix, it analyzes and shows the exact position your prices hold in the market (this column will only appear on accounts with own site defined). The image below illustrates the way this column works – namely the column ‘My own price is…’ analyzes my prices (the ones in the first column next to product names) comparing them to those of my competitors and represents them as:
- Single most expensive (examples where my price in the matrix is coloured in dark red, as in row 2)
- Most expensive, not single (examples where my price in the matrix is coloured in light red, as in row 4)
- Cheapest, not single (examples where my price in the matrix is coloured in light green, as in row 5)
- Single cheapest (examples where my price in the matrix is coloured in dark green as in the last row)
- #3 (meaning that my own price is the 3rd cheapest unique price, as in the 1st row)
- #2 (shared) (meaning that my price is the 2nd cheapest price, but one or more competitors share that price, as in row 3):
If you export the Price Matrix Report to Excel, the new column will enable you to perform advanced filtering – for example: ‘Show only products where my price is second cheapest’, or ‘Show only products where my price is not the cheapest one’.
Again, this report has been designed to help you save some time going through the matrix and analyzing the prices and colours in there. We hope it does the trick and gives you a chance to spend time on building your pricing strategies and implementing them in the most efficient way.
