Startup: Price Mentor
Launching Price Mentor – a new business intelligence offering, has kept us busy the last few months. I am writing to you both as we’ve just launched, we’re bootstrapped and we want to get the word out that we’re ready to do business.
“We keep an eye on your competition, so customers keep their eye on you.”
“When you sign up to our service, we analyse the products and prices offered on your website, and compare them against those of your chosen competitors. With the price analysis complete, we then present the information in a detailed, graphical report giving you a clear picture of where your products and prices stand in the market” says founder Andrew Arlington.
The report details what products you list compared to your competition, and which of you is priced more competitively and by how much margin. This data gives you visibility into your competition’s pricing strategies, discounting and price inflation.
Access to this competitive information allows you to tune your own prices to always be the most competitive, whether it be to raise your low price to close-in on the competitors price and capture lost profit, or to reduce your price just below the competitor’s to capture the sale. Not only that, but your competitive pricing will send you to the top rank of price comparison websites, further guaranteeing increased sales.
The Price Mentor service is family owned and operated in Australia. “This technology is cutting edge and completely unique on the web. Our latest customer is Australia’s largest Chemist retailer and they were impressed by our accuracy and attention to detail. They are using this informaiton to stay one step ahead of their competitors” says founder Andrew Arlington.