Welcome to Intelligence Node's Blog. Regardless of where you are on your retail analytics and machine learning journey, our blog covers a vast range of topics to maximize your retail growth and ensure your success.
Pricing is considered one of the four basic elements of the marketing mix, together with product, place, and promotion. It is probably the least attractive element of the four in terms of marketing. The bulk of the marketing efforts goes to product and promotion before turning to pricing. However, the price is a rather flexible […]
As pricing goes, competitive pricing is one of four major ways (the other three being cost-based, value-based and demand-based) how businesses set and develop their pricing policy. Basically, with respect to competitors, a company sets its pricing based on either lower, higher or roughly the same as it’s competition. Competition can be either direct or […]
Pricing. It’s that enigmatic element of any business that’s sure to keep executives up at night and constantly second-guessing themselves. Fire up a Google search or read any business advice book, and you’re bound to come across a bazillion different pricing strategies, all of which are purported to be an instant shot in the arm […]
If you think your small brand can’t compete with the big box stores, it’s time for a reality check. Consumers gleefully buy from businesses of every size. Even the smallest brands can gain a dedicated, cult-like following. To do so, you need more than just an amazing product and incredible customer service.
A generation ago, the mall was an inevitable stop on the holiday shopping journey. Now, many consumers finish their shopping without ever listening to the drone of Christmas music, seeing giant sale signs, or fighting for their place in line. Cyber Monday is on track to become the new Black Friday, and the longstanding Friday […]
If you have a Shopify store, then you likely already know that the market is forever changing, especially in the online marketplace. Therefore, to keep your sales at their highest, your pricing strategies have to change along with the prevailing market conditions. Dynamic pricing strategies will allow your store to be at the forefront, and […]
In any business, strategy is often the difference between a soaring success and a futile effort to connect with the customers you crave. However, with its continuing evolution and increasing competition in recent years, the eCommerce space might be even more reliant on the strength of retail sales strategies in order to capture business.
Whenever any kind of sales is involved, pricing will inevitably play an integral role in your business. Because consumers are always on the lookout for a deal, companies have come to develop a number of pricing strategies to convince prospective customers to take a chance on their products and/or services. Yet, because so much information […]
Retail analytics software collects a plethora of data ranging from pricing information, stock levels, catalogue assortments, discounts, and much more. This information is stored and collated into large databases where it is processed using statistical algorithms to record and track trends and patterns. From this data, there is a huge breadth of intelligence that can […]
Competitive price intelligence is absolutely crucial to being successful in today’s retail market- as part of the “Marketing Mix,” price has always been top priority for marketing experts and business leaders. Ineffective pricing strategies significantly hinder an organization’s ability to grow and be profitable, and can derail success despite having an exceptional product-market fit. It […]
