The method of automated monitoring of product prices and market position determination in relation to competition quotes: Monitoring of product prices and marketability development with continuous assessment of market position in on-line sales

Abstract

This article deals with the issue of automated determination of product sales price in the on-line environment. It also describes the method of calculation and the importance of global market position based on the prices and services offered. The article describes the sources where you can obtain information on the prices and marketability of the products. It describes the procedure to find the relevant products on the competitor's websites, in product aggregators and auction systems. The article describes the monitoring of price trends, product availability, promotional offers, sales and other means of sales promotion and on-line marketing. In its final part the article describes the method that based on the information obtained recommends the setting of the particular product price level, monitors the market developments and recommends the seller price changes in relation to the current state of the market. Finally, it presents an on-line application solution in which the previously described procedures are implemented.