Configure your strategy

The next main segment is to define your strategy to have a competitive pricing model that best fits the business needs such as increasing sales or improvising profit margins.

myPricing v3 provides two types of strategies, namely

      - Reference strategy

      - Cost strategy

      

I. Reference strategy

The reference price strategy is based on your current online price on this marketplace. 

When you connect a new marketplace to your account, we will import your catalogue from the connect channel with the price you currently have online. This current online price will then be saved as a reference price and fixed in our database. Without your intervention, it will never change.

This reference price will then be used to define the minimum and maximum price limits.

To set up a reference strategy : 

You have 3 parameters at your disposal:   

                                                    

Minimum price : Set the price below which the price optimised by our tool will not fall. Enter the percentage based on the reference price used to define your minimum prices.

Maximum price : Set the price above which the price optimised by our tool will not increase. Enter the percentage based on the reference price used to define your maximum prices.

Adjustment value : This lets you know how we will adjust your price in relation to your competitors.

      - Adjustment in € value : Allows you, for example, to lower your price by 1 cent compared with your best competitor.

      - Adjustment in percentage %: Allows you, for example, to lower your price by 1% less than your best competitor.

 

By clicking on "Set Strategy" button, the reference prices will be automatically calculated for the entire catalog. 

II. Cost strategy

A cost strategy is a margin-based strategy, for which you need to provide additional data on your products (costs, commission rates, tax rates, etc.) via the interface or an external file.

This data will be retrieved daily to calculate your optimised prices.

If necessary, you can also provide data such as minimum margin value, maximum margin value, adjustment value, additional cost, etc., for the calculation of the optimised price.

If you would like to choose this strategy, it is mandatory to have a  purchase price / defined cost 

                                                     

                                                    

Minimum margin : Allows you to define the minimum price for each of your products that must never be exceeded in order to ensure your minimum margin %.

Maximum margin : Allows you to set a maximum price for each of your products that must never be exceeded, ensuring a comfortable margin but not exceeding a price that is acceptable to your customer.

Adjustment value : This price will be used to adjust the optimised price.

Platform commission rate : Default product tax rate, define a tax rate (e.g. VAT) to be applied to all your products (can also be imported via file data import).

Tax rate : Allows your shipping cost to be taken into account when calculating the optimised price (can also be imported via file data import).

In order to adjust your costs on all your products at the same time, you can use the file data enrichment option in Settings > Applications > File data enrichment.

This will allow you to bulk import information that will enable myPricing to assess margins and calculate optimised prices for your products.

Once you have configured your pricing strategy, the next step is to Preview your strategy

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