A price check research is a way of comparing the prices of products or services in a given industry with those of competitors. The analysis of the data collected helps companies in a competitive market to make decisions about their pricing and marketing strategies.
In the automotive sector, mystery shopping is an excellent method to gain insight periodically (e.g. on a quarterly basis) and on an (inter)national scale:
• to what extent dealers are transparent in their quotations
• the extent to which dealers follow sales standards during the quotation process
• on the terms that a customer can negotiate when paying cash and financing the car.
Price check visit programs provide a wealth of data on the differences in pricing policies and financial terms when selling new cars of different makes. Data with which brands and their financial partners can immediately sharpen their financial parameters and optimize cooperation with dealers.
In the retail industry, price checks can also be a tool to monitor the pricing policy of your retail partners or to monitor your price position compared to your competitors, for example. Multi-Value tells you how best to set up such a price check study and supports you in its implementation.
In recent years, Multi-Value has built up extensive experience in setting up and supervising price check programs. Meanwhile, we have a well-trained pool of experienced mystery shoppers for price comparison visits in the automotive business.