Price Comparison and Analysis Template
Price Comparison Template in Excel will help you make sure your products and services are at the right price point within the market you operate.
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Comprehensive pricing analysis is a must for any company hoping to increase revenue and stay ahead of the competition in any sector. Most of the buyers compare the offers of several brands online in search of a greater deal. With the development of online shopping, access to information on prices got so easy. Brands which collect and analyze market data, offer optimal prices which can catch these buyers’ eyes first and foremost. This situation leads these companies to keep up and maintain their position in the business against their rivalries with an Excel Comparison Template.
These are the reasons why price comparison or competitive price analysis is crucial in order to have the right price position within the market you operate. Providing the right price for the right product or service will always keep you one step ahead.
If you have competitors in the same industry then you need to look at the positioning of your products according to competition. Hence, making price comparison and price analysis is an indispensable action for competition. Thanks to this Price Comparison and Analysis Template, you will guarantee yourself that you are on the right track.
Price Comparison and Analysis Excel Template Features:
Basically the flow of the template:
- Type product names, segments and market volumes in the variables table
- Define competitor brands and type product prices
As a result, the template will provide you a weighted price comparison index to see the big picture. Play with the categories, expand/collapse product groups and take necessary actions for areas which seem problematic to you.
Price comparison template is constructed by three parts;
These are the parts where you will be inputting your data and getting your results in the end. All the parts and sections are briefly explained. All you need to do is following these steps below.
Start with this section. This is where you input your raw data by simply clicking on the “VARIABLES” button. In this part you simply will write your product names, segment types and market volumes of each product. List down the name of brands which sell the same product.
After completing this part, right down your rivalries which you want to see in the analysis in the brand column.
Click on the “PRICES” button on the dashboard. It is the data which shows the worth of each product brand by brand. Input the prices for each product and brand which will be used in the comparison. You can leave the price blank if you don’t have the information. Once you put the prices of the products for each brand your data will be ready for the final analysis.
Note: The products and brands you put in the previous section it is going to be shown automatically in this part.
This section is fed by the values you input at Variables and Prices section. You can also fix the price index of the selected brand to 100 from the right hand side and other brand indexes will adapt automatically. All you have to do is refresh the report.
In short, it lets you make analyze your consolidated price comparison records.
For Strategic Pricing Decisions, Ensure That You See The Big Picture
If you have various products or services to be compared with the competition, it is easy to get lost among the numbers. Some of your products will be cheaper and some of them will be costly. You should also consider how important and strategic a product is. If you are cheap at almost all products but way expensive on a few high demand ones, you will probably lose market share and sales.
This is where mathematics comes into play. You should make some “Weighted Averages” by using market volumes. However without an automatization, this can be tedious work. That’s why we have prepared this Price Analysis Tool to provide you a quick competitive price analysis.
Price Comparison and Analysis Template Features:
- Pricing Analysis in Excel Comparison Template
- Weighted average calculation for average figures
- Supported by Pivot tables and Charts
- Cool Design
- Full Print Ready
- Works on both Windows and Mac
- Compatible with Excel 2010 and later
- No installation needed. Ready to use.