I found that it's pretty burdensome and repititive for manually setting prices when I had had an ample of stores.
An automation button on each product sold in our stores would be a nice improvement, I guess.
When clicked, the button will offer us some alternatives how we would set the price of our other products automatically based on current product price which button is clicked.
One instance is for setting them (ALL products) with a fixed profit percentage, other maybe for setting other products of the SAME KIND with equal price tag, etc.
I'll try to elaborate one of the alternatives which based the pricing on the quality ratio.
C=(Qb/Qw)*(Pc/Pa)
C= Constant
Qb= Quality index of the better product (between ours and city average)
Qw= Quality index of the worse product (between ours and city average)
Pc= Price of ours
Pa= Price of the city average's
For instance, I have 70-quality-wallet sold in my retail store for $80 in a city which averagely sold 65-quality wallet for $60
Thus I get C=1.436
Meanwhile, I'm also selling 80-quality belt in the city which is averagely selling 60-quality-belt for $100
Since
Pc=C*Pa*Qw/Qb
Hence, I'll get my 80-quality-belt automatically offered on $107.7
Furthermore, all of my products' price in the city will automatically adopt this pricing strategy and automatically adapt as well for each change in the variable's value.
The same automation button with adjusted options should be added as well to advertising part and the training part.
How do you think ? Thanks
