Worksheet · B2C: Consumer Pricing Health Check
Log a basket of fifty competitor prices each week
Competitor prices checked before your own changes, and never kept, leave nobody able to say what competitors did last year. This sheet defines a basket, logs shelf and promoted prices every week, and gives the log an owner. It builds the Competent step of the check:
A defined basket of competitor prices is logged on a schedule, so movements over time are visible.
Use prices any customer can see: websites, shelves, catalogues, advertising. Never ask a competitor for its prices or plans, and never share yours.
Step 1. The basket
Weight it to the products customers compare: known-price items, high sellers and the lines where you lose sales.
| # | Product (ours, and each competitor's equivalent) | Why it is in the basket | Competitors tracked |
|---|---|---|---|
| 1 | |||
| 2 | |||
| 3 | |||
| 4 | |||
| 5 |
Continue to fifty.
Step 2. The weekly log
| Week | Product | Competitor | Shelf price | Promoted price, if any | Channel | Source (site, store visit, catalogue) | Logged by |
|---|---|---|---|---|---|---|---|
| e.g. Week 14 | Product 7 | Competitor A | $24.99 | $19.99 (two weeks) | Online | Website | Pricing analyst |
Step 3. The owner and the monthly look
| Month | Owner | Weeks logged | Biggest moves seen | Taken to (meeting) |
|---|---|---|---|---|
Done when: a defined basket is logged every week, and the log is long enough to show how competitor prices moved.
Adapted from our own pricing process (PSP, 2004).
From the B2C: Consumer Pricing Health Check. Your report links the sheet for each of its moves.