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Text Content

The 7 Deadly Sins

of Smartphone Price Management

Pricing your smartphone contract deals with pinpoint precision is vital to your
brand’s market positioning. Here are our seven deadly sins of mobile phone
contract price-setting:

 

1

 

Trawling online stores to update the price of competitors’ smartphone deals

Manually collecting pricing information on mobile phone contracts is
inefficient. Each week, hours of searching yield a relatively small amount of
smartphone price data.

 

Advice from Phill Maling, PriceTRAX Analyst: Our streamlined online phone price
tracker is the culmination of over a decade of webscraping experience to
optimise your pricing efficiency. Our scraping agents don’t get tired or need a
holiday.

2

 

Subscribing to a smartphone price tracker, then burning time tidying and
charting mobile phone offers

Subscribing to automated price collection services and then spending too much
time preparing the information for analysis and clearly and consistently
charting the results.

 

Advice from Phill Maling, PriceTRAX Analyst: Our data is collected by
experienced smartphone analysts and model-matched so the data you receive is
clean and presented in a modern dashboard, ready to use. The information our
product price tracker collects is immediately presentation-ready.

3

 

Not picking and sticking to a smartphone pricing metric

Device pricing is so complicated that analysts are often unable to compare like
with like when tracking the price of various mobile phone deals. Although
selecting one smartphone price metric speeds up analysis, it misses important
nuances and marketing tactics.

 

Advice from Phill Maling, PriceTRAX Analyst: Our product price tracker
dashboards include a variety of metrics, so at the click of a button you can
dive deeper and understand changes in monthly mobile phone plan price and what
packages include

4

 

Allowing too much mobile phone price data to compromise your ability to spot
trends

Over-sampling can mask market trends: It is easy to miss a slight gradient on a
weekly data chart – even when you suspect that there should be changes.

 

Advice from Phill Maling, PriceTRAX Analyst: Our online smartphone price tracker
summarises data for trend detection. Switching between quarterly and weekly
views removes noise.

5

 

Being too slow to outmanoeuvre competitive mobile phone deals

When smartphone price data collection and presentation is time consuming, it is
tempting to reduce the frequency of product price updates resulting in slower
reactions to competitor dynamics.

 

Advice from Phill Maling, PriceTRAX Analyst: Our price tracker follows online
smartphone deals for you, releasing time to focus on decision making.

6

 

Missing devices from your competitive pricing data set

Competitive regional smartphone launches appear on a weekly basis across
retailers and carriers which is a problem for maintaining a basket of competitor
devices for monitoring phone deal prices across countries.  

 

Advice from Phill Maling, PriceTRAX Analyst: Our spec-based microscope flags
competitive challenges as they emerge and allows for unbiased competitive sets
to be established and regularly maintained.

 

7

 

Setting your smartphone prices too far from established industry benchmarks

You leave sales for competitors to claim if you price too far from the
established market levels. Set your price too high and sacrifice sales volume,
set it too low and you forego profit.

 

Advice from Phill Maling, PriceTRAX Analyst: You can only launch a new
smartphone once, so you only have one opportunity to set its entry price. When
considering life-cycle pricing tactics, use our product benchmarks for direct
comparisons.

 

 


REQUEST A FREE TRIAL

Register below for a free trial of the smartphone price tracker and comparison
tools.

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