E-commerce more than doubled to more than $ 1.7 trillion in 2018 with the expectation to double its size again to $ 3.4 trillion by 2023.
Experts and analysts believe that the communication of companies across the Internet, which has been increasing dramatically in recent times, must be accompanied by more profound policies to control product pricing in order to gain acceptance by the clients of the trade market. Electronic.
According to Euromonitor International, which specializes in nine major industries, digital presence is a very important element in presenting the value of companies and the various products they offer to consumers.
The survey identified key points for building and managing an effective corporate pricing strategy that will succeed in their marketing methods and increase online sales and thereby generate good profits and returns.
The key points to building a successful pricing strategy are:
(1) price measurement
It is a major step that companies struggle to reach to determine the prices of their products due to the lack of clarity about the full set of prices offered within the category, and the comparison of those prices in the market of competing products.
E-commerce data can benefit companies in achieving the best price distribution for all products and different segments that fall within the distribution range and the averages that can suit the service provider or product.
The survey respondents believe that the questions in this regard must be focused and clear, such as what price will this new market pay my product ?, How can I price my products competitively in This category, they are necessary questions to implement a successful market entry strategy.
(2) Effective Promotion
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