Top 10 Competitive Pricing Analysis Software

Updated By Nick Patrocky on June 23, 2022  |  Software Reviews 

Competitive Pricing Analysis Software

The top ten competitive pricing analysis software in the market this 2022 are the following:

  1. Luminate Market Price
  2. Intelligence Node
  3. Prisync
  4. PROS
  5. PriceShape
  6. Zilliant
  7. Model N
  8. Price Grid
  9. Pricefy
  10. Price2Spy

One of the 48 Laws of Power, according to Robert Greene, states that you have to learn how to use your enemies– and believe it or not, this law applies to your business.

To stay ahead of the competition, you must know how your competitors run their businesses. This is where competitive pricing analysis software saves the day.

This type of software can help you track your competitors’ prices and find areas where you can make adjustments to remain competitive.

This blog post will discuss the market’s top competitive pricing analysis software and the features that can help your business. We will also provide tips on getting the most out of this type of software.

Luminate Market Pricing

Built on Microsoft Azure by Blue Yonder, Luminate Market Pricing delivers optimized competitor prices according to consumer demand, brand loyalty, and local conditions.

This dynamic pricing algorithm is programmed to deliver not only tailored prices for every channel, and product but also correlates the price changes with their business strategies.

Luminate Market Pricing’s key features include:

  • Pricing Data & Management
  • Strategic Optimisation
  • Predict Price Elasticities
  • Forecast Demand
  • Optimize Decisions
  • Automated Pricing

With the information obtained from Luminate Market Pricing, business owners of both online and brick-and-mortar stores can forecast future competitor price changes and make data-driven pricing decisions that would potentially catapult their success in highly competitive markets.

Intelligence Node

Intelligence Node is a competitive price monitoring software that tracks real-time price changes and conducts competitive benchmarking in the market.

This software uses an AI-powered algorithm to help businesses make decisions about their pricing strategies.

Some of Intelligence Node’s key features include:

  • Price Optimization
  • Dynamic Pricing
  • Price Monitoring
  • Product Matching
  • Smart Repricer
  • Price Comparison

With Intelligence Node, entrepreneurs can make pricing changes according to what the market dictates and get the most up-to-date information on market changes.

Intelligence Node also uses data from your existing suppliers to find holes in their pricing and recommend ways to maximize the prices daily, as well as suggest strategies for improving your margins down to the product level.

Prisync

Prisync is a competitive pricing intelligence software that offers online retailers real-time price tracking and price change alerts that they need to stay ahead.

This web-based competitor price monitoring software offers the following solutions:

  • Price Checking
  • Dynamic Pricing
  • Pricing Data
  • MAP Monitoring
  • Price Matching
  • Price Management
  • Price Scraping
  • Price Watcher
  • Repricing
  • eCommerce Pricing
  • Competitive Intelligence
  • Assortment Analysis
  • Digital Shelf Management

Prisync offers affordable and flexible pricing plans, including a 14-day free trial, so you can try this software out before committing to it.

PROS

PROS is a competitive pricing software that provides retailers with real-time price intelligence and competitive insights.

They also offer a cloud-based SaaS platform to strategically come up with a pricing strategy that would drive in more sales and boost your profit margins.

This software offers the following features:

  • Price Tracking
  • Competitor Benchmarking
  • Pricing Data & Insights
  • Promotional Planning
  • Margin Management

The best thing about PROS is that it doesn’t only focus on eCommerce.

This platform offers its price monitoring services to various industries such as Airline & Travel, Automotive, Consumer Goods, Distribution, Energy & Chemicals, Food & Consumables, Insurance, Manufacturing, Medical Devices & Healthcare, Technology Hardware & Software, and Transportation & Logistics. I am running a few minutes late; my previous meeting is running over.

PriceShape

PriceShape’s e-commerce platform for merchants and brands allows its users to boost their sales, maximize their revenue, and improve their ROAS.

Its features include the following:

  • Dynamic Pricing
  • Competitive Price Monitoring
  • Google Shopping Feed Optimization
  • Google Shopping Feed Optimization
  • Sell brands

With PriceShape, their up-to-date price information on all brands allows their users to make calculated price changes from their data.

Each change that occurs throughout the entire market and all the details you will need to strategically plan your pricing are seen on their innovative yet beginner-friendly dashboard.

Zilliant

Founded in 1999, Zilliant is a cloud-based SaaS company aiming to help manufacturers, distributors, and high-tech and industrial service businesses optimize and manage their pricing.

Some of Zilliant’s competitor pricing software features include:

  • Pricing Data
  • Price Optimization
  • Deal & Agreement Management
  • Real-Time Market Pricing
  • Predictive Sales Analytics
  • AI & Data Science
  • Visual Analytics
  • Personalized Buying Experience

Zilliant also has a price management and administration feature that helps businesses automate and simplify their complex pricing processes and develop a pricing strategy that would help improve their business.

This way, they can focus on other essential aspects of their business.

Zilliant’s competitive intelligence software also offers the following features:

  • Market Basket Analysis
  • Competitive Price Tracking
  • Trend Analysis

What sets Zilliant apart from other competitive pricing software is its comprehensive solution for price management and competitive intelligence.

Model N

Model N is a competitor price tracking software that focuses on sales, marketing, finance, and legal transformation.

It also offers a platform for business reinvention that allows businesses to increase revenue and boost the company’s scalability.

This software also offers a complete solution for price monitoring, price optimization, and competitive intelligence.

Some of Model N’s features include:

  • Margin and Revenue Management
  • Intelligent Price Performance
  • Price Optimization & Monitoring
  • Transfer Pricing
  • Global Tax Engine
  • Advanced Analytics & Insights
  • Competitive Price Tracking
  • Pricing Data

Unlike other price monitoring software, Model N uses Price Waterfall charts and dashboards for more extensive pricing insights and data analytics.

Model N also utilizes its own Model N revenue cloud that is integrated with its Price Intelligence feature.

Price Grid

PriceGrid is a straightforward competitive pricing service that aims to provide pricing analysis in a user-friendly and cost-effective way.

Without downloading any software, PriceGrid can instantly give its users the results they need by signing up for free.

Businesses of all sizes can take advantage of the following features of Price Grid:

  • Competitive Price Tracking
  • Competitive Pricing Strategy
  • Automated Pricing Data
  • Cart Abandonment Analysis
  • Monitoring of Critical Price Points
  • Competitive Price Analysis

You will no longer need the help of other tools focused on SEO or PPC since PriceGrid also helps with products’ Search Engine Optimization. They tap on different forms of digital marketing to maximize your revenue.

Pricefy

Pricefy is a competitive pricing analysis software that enables you to track your competitors’ prices in real-time.

The software gives users data-driven insights into how their competitors are pricing their products and services.

This competitive intelligence tool can help you make informed decisions on pricing your products and services. It also allows you to monitor your competitor’s pricing strategies and adjust your own accordingly.

Here are the most basic features that Pricefy offers:

  • Competitor Price Monitoring
  • Products and Markets Opportunites Data
  • Catalog Analysis
  • MarketPlace Analysis
  • Competitor Analysis

Many eCommerce professionals love Pricefy because aside from comparing the price of your bestseller products with prices from other companies, you can also look up the products you have in common with other sellers and those that they don’t have.

This feature is exceptional to track thousands of products you can provide that others can’t– and decide your future pricing actions accordingly.

Price2Spy

Price2Spy is a competitor price monitoring tool that helps businesses keep track of their competitors’ prices in real-time.

The web-based application gives users data-driven insights on how your competitors are pricing their products and services.

It also allows you to monitor your competitor’s pricing strategies and adjust your own accordingly.

Some of Price2Spy’s features include:

  • Competitor price tracking
  • Price analysis and optimization
  • Historical data analytics
  • Smart Spidering
  • API Integration

With Price2Spy’s services, you can protect your brand value by applying the right pricing strategy to the products or services you offer.

How do I find competitors’ prices?

There are a few ways to find your competitors’ prices.

You can do it manually by going to their websites and checking their prices or using a competitive pricing analysis software that will do it for you.

If you’re looking for a more comprehensive solution, we recommend using competitive intelligence tools like the software mentioned in this article.

All of the software we have stated offers a complete solution for price management and competitive intelligence.

Doing it manually can be time-consuming, and it’s not as accurate as using software, but it’s a good option if you’re on a tight budget.

What is a price monitoring system?

A price monitoring system helps businesses track their competitors’ prices in real-time.

The software gives users data-driven insights into how their competitors are pricing their products and services.

It also allows you to monitor your competitor’s pricing strategies and adjust your own accordingly.

How do you monitor a specific pricing strategy?

There are two main ways how you can go about monitoring your competitors’ pricing strategy:

Manual Competitor Price Monitoring

This method is the most common and most traditional way of monitoring competitor pricing.

Manual competitor price monitoring or tracking involves regularly going to their websites or physical stores to monitor competitor prices.

The downside of this method is that it can be time-consuming since the prices fluctuate depending on different factors, and it’s not as accurate as using the software.

Automated Competitor Monitoring

This method is more accurate and efficient as it uses software to track your competitor’s prices.

The software will provide accurate and up-to-date information on how your competitors are pricing their products and services.

Automated competitor monitoring makes use of price monitoring software not just to take note of your competitor’s price information but also to notify its users about price updates, increase in sales, recent pricing policy or policies, and the overall pricing approach of the entire market so that they can adjust their prices accordingly.

Here are the four steps to monitor your competitor’s pricing strategy:

  1. Set your market positioning.
  2. Identify your competitors.
  3. Collect the prices of your competitor’s products.
  4. Test the pricing strategy on your products.

Why should you do competitive analysis

Although several customers look beyond the tag price, Price Elasticity of Demand and Price Elasticity of Supply dictate that even the slightest reduction in cost can lead to a considerable improvement in the number of product sales.

In an industry where the competitive landscape changes constantly, a business needs to have a finger on the pulse and know what its competitors are up to. This is where competitive analysis comes in.

By analyzing your competitor’s pricing strategy, you can make informed decisions about your prices.

Conclusion

In conclusion, using competitive pricing analysis software is the best way to find your competitors’ prices and develop a competitive pricing strategy for your brand.

It’s more accurate and efficient than doing it manually, and it will provide you with data-driven insights that you can use to adjust your prices accordingly.

If you’re looking for a complete solution for price management and competitive intelligence, I recommend that you try the software mentioned above.

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