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YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. 6 REASONS YOUR RETAIL SALES ARE DROPPING AND HOW TOSEE MORE ONBLOG.WISER.COM
WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. WHAT ARE RETAIL MARKDOWNS? What are Retail Markdowns? A markdown is a reduction in the price of an item due to its inability to sell for its original selling price. For items with a specific selling season, the markdown is critical to sell inventory before the next season’s goods come. Alternatively, if you’re in the apparel or accessories industry, there is immense 5 UNETHICAL PRICING PITFALLS TO AVOID BUILDING A STRONG RETAIL FOUNDATION Building a Strong Retail Foundation. As we talked about previously, retailers are constantly concerned about the factors surrounding sales losses. We get it, maintaining profits and reaching sales goals is tough, but it’s a misstep for retailers to blame outside forces. We know foot traffic is falling in stores across the nation due to e WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Penetration pricing is when a product is priced lower than the competition to drive sales during the initial release period. This is a pricing strategy often used by brands for a product that has high competition or is a relatively new idea. The low price helps penetrate the market by getting the attention of more consumers than a higherprice
WHAT'S THE DIFFERENCE BETWEEN LINE EXTENSION AND BRANDSEE MORE ONBLOG.WISER.COM
#1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. 6 REASONS YOUR RETAIL SALES ARE DROPPING AND HOW TOSEE MORE ONBLOG.WISER.COM
WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. WHAT ARE RETAIL MARKDOWNS? What are Retail Markdowns? A markdown is a reduction in the price of an item due to its inability to sell for its original selling price. For items with a specific selling season, the markdown is critical to sell inventory before the next season’s goods come. Alternatively, if you’re in the apparel or accessories industry, there is immense 5 UNETHICAL PRICING PITFALLS TO AVOID BUILDING A STRONG RETAIL FOUNDATION Building a Strong Retail Foundation. As we talked about previously, retailers are constantly concerned about the factors surrounding sales losses. We get it, maintaining profits and reaching sales goals is tough, but it’s a misstep for retailers to blame outside forces. We know foot traffic is falling in stores across the nation due to e WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Penetration pricing is when a product is priced lower than the competition to drive sales during the initial release period. This is a pricing strategy often used by brands for a product that has high competition or is a relatively new idea. The low price helps penetrate the market by getting the attention of more consumers than a higherprice
WHAT'S THE DIFFERENCE BETWEEN LINE EXTENSION AND BRANDSEE MORE ONBLOG.WISER.COM
CONSUMER EXPERIENCE SOFTWARE Get your products from the boardroom to the digital shelf exactly how you planned. Turn a vague, cloudy view of the market into a clear one. See exactly how your brand appears online—from prices to promotions and competitors—with our product execution tools. BRAND INTELLIGENCE SOFTWARE Brand Intelligence. The support you need to stay in control of your brand. Can you say with confidence how your brand looks across marketplaces, whether prices are MAP-compliant, or PRICE MANAGEMENT SOFTWARE Wiser for Price Management helps businesses gather and act on price intelligence, reprice, and build pricing strategies for improvedrevenue execution.
MARKET AWARENESS SOFTWARE Wiser for Market Awareness helps eCommerce retailers gather intelligence on competition, prices, and product positioning for improved market execution. PRICE ELASTICITY: WHAT IT IS AND WHY IT MATTERS Price Elasticity in Context . Price elasticity relates to many other important metrics and measurements in the retail space. Specifically, price elasticity goes together with pricing intelligence and price monitoring. When speaking with major brands, we’ve heard that it’s important to measure price elasticity because retailers won’t always say when they’re going to discount an item or THE PROS AND CONS OF DYNAMIC PRICING A few quick stats: Forrester Research estimates that price optimization software improves gross margins by 10 percent. On average, a dynamic pricing strategy increases profits by 25 percent. Of course, you’re most of the way convinced, but there’s no harm in a little social proof (like those handy customer reviews under eachof your products.)
WHAT IS SKU RATIONALIZATION AND HOW CAN YOU GET IT RIGHT SKU rationalization is the process through which a brand or manufacturer determines if a product should be kept for sale or if it should be discontinued. Using sales data at the SKU level, a merchant can drive SKU optimization, engage in demand planning, detect cannibalization between SKUs, track eCommerce vs in-store metrics, andseveral other
WHAT IS PHANTOM INVENTORY? HERE’S HOW TO SPOT IT Phantom inventory is a problem for retailers because it generates zero dollars in sales. It’s inventory that you believe is on the shelf but doesn’t exist, which means nobody can buy it. Furthermore, phantom inventory creates more issues beyond lost revenue. The unknown nature of this type of inventory means you can’t attribute a poor HOW BUY ONE, GET ONE CAN IMPROVE YOUR SALES Buy One, Get One is a great tool that can help you get rid of your less desirable inventory quicker and maintain profitability at the same time. Imagine that you are selling an item for $10 that cost you $2.50. If you place a half-off sale on this item, you would make a $2.50 profit from selling one. Now, if you offered the item in a BOGOsale
HOW TO USE PRICING AND PROMOTIONS TO IMPROVE CUSTOMER Customer satisfaction is based on various factors, pricing and promotions are just a piece of the puzzle. Optimizing pricing and promotions can be a win-win situation by boosting sales and creating loyal, happy customers. Successfully pricing products or services will create happy customers that are content with their purchase and theamount
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE What is MAP Pricing? A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
WHAT IS CHARM PRICING? There's a reason why it's hard to go shopping and come home with only one item. (Well, to be honest, there are likely a few reasons for that). The one Charm pricing is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. 5 UNETHICAL PRICING PITFALLS TO AVOID WHAT IS VISUAL MERCHANDISING? The Importance of Strong Visual Merchandising. Visual merchandising is a powerful way to cut through the noise. In brick-and-mortar stores and online storefronts, consumers are barraged with visual and text-based advertising. BUILDING A STRONG RETAIL FOUNDATION Angelica Valentine Angelica Valentine is a Marketing Consultant with several years of expertise in the retail sector. Her work has appeared on VentureBeat, Business Insider, SAP, and more. WHAT IS PHANTOM INVENTORY? HERE’S HOW TO SPOT IT Are there ghosts haunting your shelves? No, not real-life ghosts: phantom inventory. Walk through the aisles and see empty shelves and out-of-stock Phantom inventory is inventory reported to be on-shelf that is not actually there. Retailers must identify and prevent phantom inventory to support sales. WHAT GEN Z WANTS FROM THEIR IN-STORE EXPERIENCE TOP 7 KPIS STORE OPERATORS NEED TO MANAGE 7 KPIs Store Operators Need to Track. It’s impossible to give a comprehensive list of KPIs that every retail store should be tracking. Choosing the right KPIs to measure is about understanding the specific purpose each one serves, how each KPI can be measured qualitatively or quantitatively, what timeframe is relevant for reporting on each KPI, and how the metrics map to wider strategic goals. HOW TO USE PRICING AND PROMOTIONS TO IMPROVE CUSTOMERSEE MORE ONBLOG.WISER.COM
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE What is MAP Pricing? A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
WHAT IS CHARM PRICING? There's a reason why it's hard to go shopping and come home with only one item. (Well, to be honest, there are likely a few reasons for that). The one Charm pricing is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. 5 UNETHICAL PRICING PITFALLS TO AVOID WHAT IS VISUAL MERCHANDISING? The Importance of Strong Visual Merchandising. Visual merchandising is a powerful way to cut through the noise. In brick-and-mortar stores and online storefronts, consumers are barraged with visual and text-based advertising. BUILDING A STRONG RETAIL FOUNDATION Angelica Valentine Angelica Valentine is a Marketing Consultant with several years of expertise in the retail sector. Her work has appeared on VentureBeat, Business Insider, SAP, and more. WHAT IS PHANTOM INVENTORY? HERE’S HOW TO SPOT IT Are there ghosts haunting your shelves? No, not real-life ghosts: phantom inventory. Walk through the aisles and see empty shelves and out-of-stock Phantom inventory is inventory reported to be on-shelf that is not actually there. Retailers must identify and prevent phantom inventory to support sales. WHAT GEN Z WANTS FROM THEIR IN-STORE EXPERIENCE TOP 7 KPIS STORE OPERATORS NEED TO MANAGE 7 KPIs Store Operators Need to Track. It’s impossible to give a comprehensive list of KPIs that every retail store should be tracking. Choosing the right KPIs to measure is about understanding the specific purpose each one serves, how each KPI can be measured qualitatively or quantitatively, what timeframe is relevant for reporting on each KPI, and how the metrics map to wider strategic goals. HOW TO USE PRICING AND PROMOTIONS TO IMPROVE CUSTOMERSEE MORE ONBLOG.WISER.COM
PRICE MANAGEMENT SOFTWARE Wiser for Price Management helps businesses gather and act on price intelligence, reprice, and build pricing strategies for improvedrevenue execution.
CONSUMER EXPERIENCE SOFTWARE Get your products from the boardroom to the digital shelf exactly how you planned. Turn a vague, cloudy view of the market into a clear one. See exactly how your brand appears online—from prices to promotions and competitors—with our product execution tools. BRAND INTELLIGENCE SOFTWARE Brand Intelligence. The support you need to stay in control of your brand. Can you say with confidence how your brand looks across marketplaces, whether prices are MAP-compliant, or MARKET AWARENESS SOFTWARE Wiser for Market Awareness helps eCommerce retailers gather intelligence on competition, prices, and product positioning for improved market execution. YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE What is MAP Pricing? A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. WHAT IS VISUAL MERCHANDISING? The Importance of Strong Visual Merchandising. Visual merchandising is a powerful way to cut through the noise. In brick-and-mortar stores and online storefronts, consumers are barraged with visual and text-based advertising. WHAT ARE RETAIL MARKDOWNS? What is a retail markdown? A markdown is a reduction in the price of an item due to its inability to sell for its original selling price. WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Are you getting ready to launch a new product? It's at this time that brands need to focus on setting the right price to attract the most customers Is penetration pricing the right strategy for your brand? Find out what penetration pricing is, some common examples, and pros and cons for brands. ERP SOFTWARE OR PRICING ENGINE? HOW TO HELP YOU CHOOSE In the business world, few things can swing so easily from valuable, simple, must-haves to complicated, overwhelming, and confusing likeyour tech stack.
WHAT IS PRODUCT SERIALIZATION? Across nearly every retail vertical, companies are faced with pressure from regulators and consumers to provide more visibility into their supply chains. Product serialization is the process of tagging individual saleable units of inventory with unique #1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. 5 UNETHICAL PRICING PITFALLS TO AVOID WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Penetration pricing is when a product is priced lower than the competition to drive sales during the initial release period. This is a pricing strategy often used by brands for a product that has high competition or is a relatively new idea. The low price helps penetrate the market by getting the attention of more consumers than a higherprice
BUILDING A STRONG RETAIL FOUNDATION Building a Strong Retail Foundation. As we talked about previously, retailers are constantly concerned about the factors surrounding sales losses. We get it, maintaining profits and reaching sales goals is tough, but it’s a misstep for retailers to blame outside forces. We know foot traffic is falling in stores across the nation due to e WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
HOW TO USE PRICING AND PROMOTIONS TO IMPROVE CUSTOMERSEE MORE ONBLOG.WISER.COM
QUAD ANALYTIX AND MOBEE ARE NOW WISER SOLUTIONS, INC Quad Analytix and Mobee merge, creating a comprehensive analytics platform for omnichannel. SAN MATEO, Calif. – (September 13, 2017) – Wiser Solutions, Inc. launched today with an all-in-one analytics platform for retail. Created from the merger of retail technology firms, Quad Analytix and Mobee, Wiser eliminates the need for point WHAT GEN Z WANTS FROM THEIR IN-STORE EXPERIENCE WHEN IS PRICE SKIMMING EFFECTIVE? PROS AND CONS FOR BRANDS When done right, a new product launch can be a big win for a brand. Apple is usually on the winning side of its product launches, with lines wrapped Price skimming is when a brand or retailer charges a high price for a product at launch and then reduces that price over a short period of time. #1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. 5 UNETHICAL PRICING PITFALLS TO AVOID WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Penetration pricing is when a product is priced lower than the competition to drive sales during the initial release period. This is a pricing strategy often used by brands for a product that has high competition or is a relatively new idea. The low price helps penetrate the market by getting the attention of more consumers than a higherprice
BUILDING A STRONG RETAIL FOUNDATION Building a Strong Retail Foundation. As we talked about previously, retailers are constantly concerned about the factors surrounding sales losses. We get it, maintaining profits and reaching sales goals is tough, but it’s a misstep for retailers to blame outside forces. We know foot traffic is falling in stores across the nation due to e WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
HOW TO USE PRICING AND PROMOTIONS TO IMPROVE CUSTOMERSEE MORE ONBLOG.WISER.COM
QUAD ANALYTIX AND MOBEE ARE NOW WISER SOLUTIONS, INC Quad Analytix and Mobee merge, creating a comprehensive analytics platform for omnichannel. SAN MATEO, Calif. – (September 13, 2017) – Wiser Solutions, Inc. launched today with an all-in-one analytics platform for retail. Created from the merger of retail technology firms, Quad Analytix and Mobee, Wiser eliminates the need for point WHAT GEN Z WANTS FROM THEIR IN-STORE EXPERIENCE WHEN IS PRICE SKIMMING EFFECTIVE? PROS AND CONS FOR BRANDS When done right, a new product launch can be a big win for a brand. Apple is usually on the winning side of its product launches, with lines wrapped Price skimming is when a brand or retailer charges a high price for a product at launch and then reduces that price over a short period of time. #1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. PRICE ELASTICITY: WHAT IT IS AND WHY IT MATTERS Price Elasticity in Context . Price elasticity relates to many other important metrics and measurements in the retail space. Specifically, price elasticity goes together with pricing intelligence and price monitoring. When speaking with major brands, we’ve heard that it’s important to measure price elasticity because retailers won’t always say when they’re going to discount an item or WHAT ARE INELASTIC PRODUCTS AND HOW DO THEY IMPACT PRICING In economics, price elasticity is a term used to refer to the change in the demand for something as its price changes. In general, when there’s a price increase, the quantity demanded decreases, and vice versa. This is generally visualized by a demand curve, where the quantity demanded is on the x-axis and the price is on the y-axis. WHY IS AVERAGE UNIT RETAIL (AUR) IMPORTANT? Average Unit Retail Defined. Average Unit Retail, in simple terms, is the average price an item is sold for in a specific time period. AUR is calculated by dividing the total revenue or net sales in dollars by the number of items sold. If your total revenue for the day was $2,000, and you sold 100 units, your AUR for that day would be $20. HOW TO ENFORCE MAP PRICING ON AMAZON How can you enforce MAP pricing on Amazon? This is a question asked by countless brands and manufacturers, and it’s a good one. Marketplaces like Amazon are few and far between, and the sheer number of sellers, aggressive pricing tactics by Amazon itself, and consumer traffic make it both the best and the hardest place to sell. WHAT IS PHANTOM INVENTORY? HERE’S HOW TO SPOT IT Phantom inventory is a problem for retailers because it generates zero dollars in sales. It’s inventory that you believe is on the shelf but doesn’t exist, which means nobody can buy it. Furthermore, phantom inventory creates more issues beyond lost revenue. The unknown nature of this type of inventory means you can’t attribute a poor HOW TO IMPROVE YOUR PROMOTIONAL STRATEGY USING COMPETITOR Promotions are a key element of the marketing mix. Putting a strong promotional strategy in place can lead to increased customer awareness of your product or brand, and higher sales. An important aspect is the look and feel of your ads. A successful promotional strategy can bring your brand to a more targeted audience. HOW BRANDS CAN MANAGE PRICING WHILE SELLING OVERSEAS One of the hardest aspects of running your business overseas is the management of your pricing. Prices differ overseas due to a couple of reasons, namely the shipping cost associated with the distance between countries and continents. The standalone shipping price is enough to discourage customers from shopping on your site and result in an__ Navigation
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