Pricing Vocabulary
The Sniffie Pricing Vocabulary is a collection of essential terms used in retail and ecommerce pricing that offers a brief overview of how the terms are defined and how to use different techniques in pricing.
Advertising has always been an essential part of business and commerce. The advertised price of a product or service can greatly influence...
Brand perception is the way in which consumers perceive a particular brand in the marketplace. This perception can have a significant...
Bulk pricing, also known as quantity discounts, is a pricing strategy used by ecommerce and retail businesses to incentivize customers...
Bundle pricing or product bundling is a pricing strategy that involves offering multiple products or services as a package deal at...
One of the many approaches to pricing is in ecommerce & retail is “Campaign Pricing,” which involves offering promotions,...
Competitive match pricing methodology is a pricing practice that involves closely monitoring the prices of competitors in order to...
The competitive landscape in ecommerce and retail world is tough, to stay ahead of the competition and meet customer expectations,...
Competitor price index (CPI) refers to a metric that ecommerce and retail businesses use to monitor and compare their prices to those...
Cost pricing, also known as cost plus pricing, is a pricing strategy used by businesses to determine the selling price of a product...
Custom value in pricing refers to the practice of tailoring prices to meet the specific needs and preferences of individual customers....
Discount containment refers to the process of controlling the discounts offered to customers, so that they don’t eat into the...
Dynamic pricing is a strategy that involves adjusting prices in real-time based on factors such as supply and demand, competitor prices,...
The world of ecommerce and retail is constantly changing and adapting to new technologies. From online shopping to artificial intelligence,...
Ex-works pricing (EXW), is a pricing method that is based on the cost of the goods or products at the factory or manufacturing site....
In the retail and ecommerce industry, it’s important to set a pricing strategy that ensures a steady stream of profits. One common...
Highly competitive pricing is a pricing strategy used by retailers and ecommerce businesses to gain an advantage over their competitors...
Pricing is one of the most crucial aspects of running a successful ecommerce or retail business. One concept that is becoming increasingly...
Incremental pricing revenue in ecommerce and retail
Incremental pricing revenue is a pricing strategy used by retailers and ecommerce...
Initial markup is a term used in retail and ecommerce businesses to describe the price increase from the cost of a product to the final...
Initial markup or IMU is a pricing strategy used by retailers and ecommerce businesses to determine the initial price of a product...
The concept of a Key Basket refers to a group of products or items that are deemed to be particularly important for a business, as...
Key value items or KVIs, are products that play a critical role in the sales and profitability of a retail or e-commerce business....
Keystone pricing is a widely used pricing strategy in retail and ecommerce businesses. It involves setting the selling price of a product...
Manufacturer’s Suggested Retail Price, commonly known as MSRP, is a recommended selling price for a product set by the manufacturer....
Markdown costs refer to the decrease in the original price of a product due to clearance sales, end-of-season promotions, and other...
For any business it is important to understand the market(s) it operates in and the prices of similar products in the market. This...
Minimum Advertised Pricing or MAP strategy is a pricing agreement between a manufacturer and its dealers or retailers. The manufacturer...
Nonlinear pricing is a strategy that takes into account a variety of factors beyond the cost of a product or service. These can include...
Penetration pricing is a common pricing strategy in ecommerce and retail businesses that aims to quickly gain a large market share...
Pocket pricing refers to the pricing strategy used in retail and ecommerce businesses that is based on the idea that consumers are...
Predatory pricing refers to a pricing strategy where a business lowers its prices significantly below the cost of production and sells...
The concept of premium pricing refers to setting a high price for a product or service, in comparison to its competitors, to convey...
Price anchoring refers to the psychological phenomenon where consumers use an initial price as a reference point when making subsequent...
Price Band Analysis involves dividing a product’s price range into different categories, or “bands”, based on the...
Price lining refers to selling different products at different price points to cater to customers who are looking for different levels...
The basic idea behind price matching is that retailers will match the price of a competitor’s product if a customer finds it...
Price optimization is the process of analyzing market data, consumer behavior, and sales trends to set the optimal price for a product....
Price point is a crucial factor in pricing within the ecommerce and retail space. Simply put, a price point is the specific price...
Pricing in ecommerce and retail businesses is a complex and ever-evolving aspect of running a successful operation. One important concept...
The concept of price transparency refers to the availability and accessibility of information about the prices of goods and services....
A price war or price competition refers to a situation where businesses compete against each other by repeatedly lowering their prices...
Pricing rules in ecommerce and retail
Pricing rules refer to a set of guidelines or parameters that ecommerce and retail businesses...
Pricing safeguards refer to the measures that ecommerce and retail businesses take to prevent and detect illegal or harmful pricing...
In today’s fast-paced business world, companies must be able to quickly respond to market changes and adjust their strategies...
The role of product volumes in ecommerce and retail
When it comes to pricing in the ecommerce and retail sectors, product volumes is...
One of the key concepts to grasp when it comes to pricing within the ecommerce and retail space is profit optimization. It refers to...
In the world of ecommerce and retail, the way a product is priced can make all the difference. One of the most common pricing strategies...
In the world of ecommerce and retail businesses one of the most intriguing aspects of pricing is the concept of “psychological...
In the fast-paced world of ecommerce and retail businesses, it’s essential to have a comprehensive understanding of the market...
Retro payments are a pricing concept that refers to payments made after a product or service has been sold and delivered. This concept...
Perceived value of products refers to the value that consumers place on a product, which may not always be aligned with the actual...
Value based pricing is a pricing strategy that focuses on the value that a product or service provides to the customer. It’s...