Outdated catalogs can create a lot of confusion in your sales process
It is crucial for companies to stay updated with the current products and their prices. The businesses they are dealing with involve selling of the products that are determined by the customers’ demand. The stock and the product price act as important elements in this business.
Produce what customers want to buy
For a business, the characteristic of a product depends on the wish-list of customers. For example, if you own a business of selling fruits, your sales team should closely coordinate with retailers so that the product supplying company could meet the current customers’ demands. When the customers in a specific region call for a tremendous amount of green apples for time being, the company’s sales team would supply the demanded products for a short period of time.
The commitment of sales team contributes to a successful business of the company. The customers will render a trust in the company, which in turn the business will have a huge chance of customer retention. The company and the customers would develop a lifetime relationship between them.
Product price complies with stock
The price of the products would align with the amount of inventory in the storehouse. The business will establish flexible prices for products depending on the current demand in the market. This pricing strategy is known as surge pricing. It covers several industries. In this strategy, the business changes the prices according to the demand for the product in the market. The surge pricing is adjusted in accordance with sales targets. It also counted on competitors’ pricing strategy.
By checking on competitors’ price, the retailers will give a new price for a specific product. They will increase the price while product demand is high and decrease the price while it is low. The stock availability and the product price are complementary to each other. The surge pricing is executed especially for profit.
Sync your stock location and price list
Different sales teams of a company may locate in several regions. In this circumstance, there is a chance of product being run of stock. For example, you have in the location A, the demand for a particular product is low and the huge quantity of inventory is piling up in the storehouse. On the other hand, the demand for the same product is high in the location B and there is a shortage of stocks.
This development could lead to disruption of pace in the business. Customer will also refrain themselves from this particular brand and switch to other players. For the establishment of a successful business, retention of a customer is more important than acquiring a new customer.
E-catalog for dynamic pricing
With the help of e-catalog, a business can keep eyes on the current market as well as adjustable prices. Catalog Bar, the online catalog builder delivers you the ultimate answer to all the jigsaw puzzle in your business. The multipurpose order management app allows the users to architect their own catalog page of their choice. They can add fields and categories as many as they need. Any information about the product including image, code, price, and sales location can be added to catalog app. Other files like voucher can also be uploaded. Users can change the theme and background colour whenever they need to. The application is simple to use and it gives accurate details of the current market.
Give e-catalog a try to get lucrative business
E-catalog can save your business from facing devastation. For example, you own a confectionery business that is famous for producing candy, chocolate bar, fruit nuts, and crème has regular customers. Due to some cranky incidents, the company has stopped producing fruit nuts. They add candy stick as a new product on the list. If this new development has not been informed to the regular customers, there may be confusion in the sales process. This could create a negative impact on your business.
In order to avoid such crisis situation, the company must use catalog software. Users of Catalog Bar can change the information of products available in the store. You can simply remove fruit nuts and add candy stick to the product list. You don’t have to physically announce this development to those customers. The changing of product price would be seen sales partners in another location. In this way, the business partners can coordinate each other on e-catalog app. With this latest method of catalog building, a company can help its business from losing to its competitors.