In this series of articles, we examine the “Four Ps” (Price, Product, Promotion and last month’s topic, Place), the building blocks of marketing – and their relevancy in today’s Digital world.
How pricing is presented online is often a key factor in converting sales. From bundles and SKU breadth to complementary product adjacencies, premium placement in search results, auto-fill subscriptions, and free shipping – there is shopper confusion online and true price is often obscured.
Without physical limitations, complementary bundles and product adjacencies that are difficult in brick and mortar are reasonably simple in eCommerce. But what bundles at what prices are optimal? The options are almost unlimited.
With Digital.IQ – Decision Insight’s proprietary eCommerce test & learn platform, multiple variables may be tested simultaneously to predict the best mix of product bundles, featured items, adjacencies, and discounts.
Read more…click to read High Stakes eComm Pricing Games article.
Contact Leslie Downie at Decision Insight to discuss the impact of eCommerce and how we can help develop and test marketing strategies to optimize your PRICE at retail.