Competitor Price Monitor - How much do you know about your competitors?
Inventive IT's Competitor Price Monitor (CPM) is a complete monitoring service that provides strategic visibility of your products market position. We currently work with several airports to provide pricing and data on their competitors parking products.
Benefits of our system include
Ability to gain complete visibility of your market position relative to your competition
Gained insight into competitor product ranges, categories and stock levels
Easy access to high volumes of competitor data.
The CPM system can also be fed into Inventive IT's Altitude parking pre-booking and inventory management system. The competitor data can then be used to automate pricing decisions using rules based pricing for your car parking products.
Inventive IT launched Altitude, the airport pre-booking and distribution system in March 2011 with Peel Airports Group at Liverpool, Durham and Doncaster Airports.Since going live the system has been delivering excellent results. Average revenue has increased 15% year on year, with an average of 10% of customers upgrading their parking product and an average sales conversion rate of 35% (visitors to bookings).
If you'd be interested in a demo please call +44 (0)845 867 7641.
What is Competitor Price Monitor?
Inventive ITs Competitor Price Monitor is a complete price monitoring service; providing strategic visability of your products market position. CPM collects competitor data into a centralised data store and provides on-line market intelligence reporting. The data collected can also be fed into your existing management information and pricing systems.
Why would I benefit from using CPM?
CPM enables business to view the number of products and ranges competitors have on sale, lets you know when competitors change their pricing and identifies comeptitors that are following price tracking strategies. The system enables users to factor in competitors pricing to their pricing decisions, ensuring that your product pricing stategy is competitive. This is especically valuable for any business selling products that are commoditised.
Who should use CPM?
Any business selling products or services on-line, with direct on-line competitors, can gain business advantage by understanding their products price position in the market. We currently provide this service to a range of industries including Tour Operating (Inbound and Outbound), Aviation and Electronics. We can easily tailor a bespoke solution to a new industry in just 2-4 days. In terms of size, our cloud computing infrastructure can deliver anything from small scale solution up to multi site multi language solutions collecting data from sites with 10s of millions of products.
Do I need technical knowledge to use CPM?
Software as a Service (SaaS). This means we set up, host and manage the solution from our head office in Manchester. There is no complicated software setup or web hosting to worry about. You simply tell us about the competitor data youd like to collect and you can be up and running in just two days.