TO SAVE TIME AND INCREASE YOUR PRODUCTIVITY!
you need to have extremely well knowledge in the market of the entire category. This means that you need to follow up on stock availability, prices, new offers, deals, promotions, etc. The big issue with this is that while customers do it for one single product, as a category manager you need to follow up on dozens, hundreds, or maybe thousands of products.
The problem starts here
So if customers spend 5-10 minutes researching for the best option to buy with a great efficiency thanks to price comparison engines, things are quite different for a category manager. Let’s say you have to manage 100 products. It means that these 5 minutes are multiplied for the complete amount of products, so you would need 500 minutes which sums up to 8 hours of work.
You will be able to gather all the information you would need 4 times a day automatically. So we can assure you that the first thing our price monitoring software can do for you is to save your time and make your work much more efficient.
Get better supplier deals
There is another important element in the category manager’s responsibility. They also have to buy from the suppliers. So it’s not only that you have to be aware of what your competitors are doing when selling, but also notice the opportunities and price changes in what suppliers’ offer.
Even if you have an agreement with your supplier, you can negotiate the prices if they change. You will strengthen your negotiation position by getting your supplier real price data.
Adapt the decisions to the market
Someone may think that when you start to track prices you will end up lowering them, but that’s not true. Prisync is a powerful source of information to adapt different decisions to the market.
You’ll detect that competitors don’t have stock or if you notice your prices are too low in comparison to them, you can get benefit from that opportunity and raise your prices.
You also will be able to generate reports from the data collected, which will help you to better understand the market movements.
You will be able to find out regular price changes so in special times of the year, like winter holidays or sales periods, you will be able to adapt your prices before your competitors change theirs.
The category managers’ role has changed a lot lately. Their responsibilities are increasing with time due to the need of developing a customer-oriented scope. With a great effort focused on customers, a product manager can’t afford to have good information about his competitors. While managing jobs are getting more and more responsibilities, technology is allowing workers to increase their performance and achieve what the market is demanding.