In this article we analyze how Google price tracker can affect the Business of Companies, especially those with eCommerce.
You have made an e-commerchandise and your ongoing goals are to acquire new customers and increase online sales.
Online competition is increasingly fierce. New portals, ecommerce, aggregators and apps are springing up every day and trying to undermine your Business.
As of today, unfortunately, you will have a super fierce new competitor by the name of Google.
Well yes, Google has recently launched in America an integration to its search engine that allows it to perform product comparisons. This is the so-called “Price Tracker.”
If your Business is focused solely on price this news may give you some concern. If, on the other hand, your Business is focused on “service” you can rest easy. Portal more, portal less it is always the service that makes the difference.
Price monitoring with Chrome
The useful feature, after its debut in the Chrome desktop version, also lands on Android smartphones and tablets through which, now, prices can be monitored.
Keeping tabs on the price of an item for sale online, which we long for, is one of the most appreciated features that since early December (for U.S. users only) came with the latest update of Google Chrome for desktop.
Now Big G is extending this feature of its browser to the Android version as well, again, however, only in the US.
Will it come to Europe and, in particular, to Italy? Perhaps, unless the EU deems Google’s to be unfair competition to price comparison sites.
Basically, price monitoring of an item works in the same way as many price comparison sites found on the Web.
Having chosen the item to be monitored, an email is received when this price drops or if it reaches a certain threshold chosen by the user.
The monitoring takes place, simultaneously, on several of the most popular e-commerce sites where most purchases are made (based on product category).
As you can imagine, this is certainly a very useful feature, since it is already directly integrated into the browser and so there is no need to use other sites that do the same thing: there is basically no need to go to a comparison site to activate price alerts.
How does price tracking work?
- Once you have chosen the object of desire, simply click on the bell-shaped icon with the words “Track Price” next to it that appears to the left of the address bar.
- This icon displays automatically when using the Chrome browser to do Google searches for the price of a specific item.
- If the price of the monitored item drops, the system, completely autonomously, sends an email to the address registered in one’s Google account.
- The text of the email includes the link to reach the e-commerce that offers the best price compared to when the monitoring started.
- At this point a decision can be made as to whether it is the right time to make the purchase and thus whether the price is deemed appropriate for the investment to be made.
- Of course, one can wait for a new email, if ever the item we so desire becomes even more affordable one day.
How price influences our purchases and strategies to beat the competition
Philip Kotler believes that not all customers are willing to pay a high price for a given product, at the same time they perceive too low a price as a symptom of non-quality.
So, this is where the power of the differentiating idea comes in. You don’t need to invent anything, just think about it. Think, among the various products you sell or services you provide, what is the one that only you know how to make in a particular way. Or think about how you could make it unique. Focus on the service, not the price.
Also, never forget to always put the Customer at the center of your business strategy.
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