Price Monitoring Templates
Effective pricing is crucial for ecommerce success. Wakflo’s price monitoring templates help you automate competitor price tracking, optimize your pricing strategy, and respond quickly to market changes.
Available Templates
Monitor competitor prices across multiple marketplaces
Competitor Price TrackingAutomatically adjust prices based on market conditions
Dynamic Pricing RulesGet notified about significant market price movements
Price Change AlertsTrack minimum advertised price compliance across channels
MAP Compliance MonitoringCompetitor Price Tracking
This template automates the monitoring of competitor prices across multiple marketplaces and websites, giving you valuable competitive intelligence.
Key Features:
- Multi-channel price monitoring
- Scheduled data collection
- Product matching algorithms
- Historical price tracking
- Competitive position analysis
- Trend identification
- Comprehensive reporting
How It Works
Define products to monitor
Select which products and competitors to track
Configure data sources
Set up connections to marketplaces and competitor websites
Schedule price checks
Define how often to collect pricing data
Data collection
Automatically gather current price information
Price analysis
Process and analyze the collected data
Reporting
Generate insights and competitive position reports
Alert generation
Notify team members about significant price changes
Tracking Configuration
Product Monitoring Setup
Product Selection
- Top selling products
- High-margin items
- Price-sensitive categories
- New product launches
- Seasonal merchandise
Competitor Selection
- Direct competitors
- Marketplace sellers
- Large retailers
- Specialty stores
- Online-only retailers
Monitoring Schedule
| Product Category | Frequency | Priority |
|---|---|---|
| Top Sellers | Daily | High |
| Competitive Categories | Every 3 days | Medium |
| Stable Products | Weekly | Low |
| Promotional Items | Twice daily | Critical |
Price Comparison Dashboard
Competitor Price Analysis
67%
Price Competitive Rate
$3.42
Avg. Price Advantage
12
Products Needing Review
Products Requiring Attention
Price History Trend
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Dynamic Pricing Rules
This template automates price adjustments based on competitor data, inventory levels, demand signals, and your business rules.
Key Features:
- Rule-based price adjustments
- Multi-factor pricing algorithms
- Customizable pricing strategies
- Margin protection
- Scheduled vs. real-time updates
- Approval workflows
- Price history tracking
How It Works
Define pricing rules
Create business rules that determine when and how prices should change
Monitor triggering conditions
Continuously check for conditions that would trigger price adjustments
Calculate new prices
Apply pricing algorithms to determine optimal new prices
Validate price changes
Ensure new prices meet profitability and strategy requirements
Apply price updates
Push new prices to your sales channels automatically or after approval
Track performance
Monitor the impact of price changes on sales and margins
Pricing Strategy Options
Competitor-Based Pricing
Strategy Overview
Adjust prices based on competitor pricing to maintain a specific competitive position in the market.
Common Rules
- Match lowest competitor price
- Stay within X% of average market price
- Maintain price leadership in specific categories
- Position as premium option (X% above competitors)
Example Rule
Rule Name: Match-and-Beat Top Competitor
Trigger: Competitor X price changes by more than 5%
Action: Set price to competitor price minus 3%
Constraints:
- Maintain minimum 15% margin
- Max price reduction: 10% from current price
- Require approval if change > $20
Inventory-Based Pricing
Strategy Overview
Adjust prices based on current inventory levels to optimize stock turnover and prevent overstock or stockout situations.
Common Rules
- Increase prices when inventory is low
- Decrease prices for overstocked items
- Aggressive discounts for end-of-life inventory
- Seasonal pricing adjustments
Example Rule
Rule Name: Overstocked Item Discount
Trigger: Inventory > 150% of target level for 14+ days
Action: Reduce price by 5%, increase by 2% each week without reduction in stock level
Constraints:
- Maximum discount: 25%
- Maintain minimum 10% margin
- Restore original price when inventory < 120% of target
Demand-Based Pricing
Strategy Overview
Adjust prices based on current demand signals and sales velocity to maximize revenue during high-demand periods.
Common Rules
- Increase prices for fast-selling items
- Reduce prices for slow movers
- Time-of-day pricing adjustments
- Seasonal demand pricing
Example Rule
Rule Name: High Demand Premium
Trigger: Sales velocity increases by 200% over 3-day average
Action: Increase price by 5% every 24 hours while demand remains high
Constraints:
- Maximum increase: 20% from base price
- Return to regular pricing when velocity normalizes
- Do not increase if already 10%+ above competitor average
Time-Based Pricing
Strategy Overview
Schedule price changes based on time factors such as time of day, day of week, or seasonal events.
Common Rules
- Weekend vs. weekday pricing
- Holiday season adjustments
- End-of-month promotions
- Product lifecycle pricing
Example Rule
Rule Name: Weekend Special Pricing
Trigger: Friday 12:00 PM through Sunday 11:59 PM
Action: Reduce price by 10% for selected leisure product categories
Constraints:
- Only apply to non-sale items
- Exclude items with < 20% margin
- Return to regular pricing automatically on Monday
Rule Configuration
Creating Effective Pricing Rules
Each pricing rule consists of these components:
| Component | Description | Example |
|---|---|---|
| Trigger | The condition that activates the rule | Competitor price drops by 5%+ |
| Scope | Products affected by the rule | All products in “Electronics” category |
| Action | The price change to apply | Match competitor price |
| Constraints | Limits on the price change | Minimum 15% margin, max -10% change |
| Priority | Rule precedence when multiple apply | High (overrides lower priority rules) |
| Approval | Whether changes need review | Auto-apply if change < $10, else review |
| Schedule | When the rule is active | Monday-Friday, 9 AM to 6 PM |
Price Change Alerts
This template keeps your team informed about significant price changes in the market, allowing for quick responses to competitive moves.
Key Features:
- Customizable alert thresholds
- Multi-channel notifications
- Priority-based alerting
- Contextual market information
- Response recommendations
- Historical price comparison
- Mobile-friendly alerts
Alert Configuration
Alert Triggers
- Competitor price drops below your price
- Percentage change exceeds threshold
- Price falls below cost + minimum margin
- Market average shifts significantly
- Buy Box price changes
- Flash sale detected
- New lowest price in market
Alert Recipients
- Category managers for relevant products
- Pricing team members
- Marketing department for promotional responses
- Executive team for high-priority alerts
- Sales team for customer-facing information
Alert Types
Critical Alerts
Major price disruptions requiring immediate action
- Competitor undercuts by >15%
- Major competitor flash sale
- Multiple competitors dropping prices
Important Alerts
Significant changes requiring attention today
- Competitor undercuts by 5-15%
- Top seller price changes
- New market entrant aggressive pricing
Informational Alerts
Market changes to be aware of
- Minor competitor price changes
- Market average shifts
- Seasonal pricing adjustments
Sample Alert Email
Subject: CRITICAL PRICE ALERT: Competitor Undercut on Premium Wireless Earbuds (EB-2001)
Priority: CRITICAL
Immediate attention required
Product: Premium Wireless Earbuds (EB-2001)
Your Current Price: $79.99
Competitor Price: $64.99 at TechDeals.com (-18.8%)
Detection Time: April 2, 2025, 10:32 AM
Market Context:
- This is a 15% greater discount than TechDeals.com’s previous lowest price
- Two other competitors have matched this price in the last 3 hours
- Your product is now the highest priced option among major competitors
- This product represents 8% of your category revenue
Recommended Actions:
- Review margin impact of matching competitor price
- Check if this is part of a larger promotional strategy
- Consider implementing “Price Match Response” rule
MAP Compliance Monitoring
This template helps brands and manufacturers monitor and enforce Minimum Advertised Price (MAP) policies across all sales channels.
Key Features:
- Automated MAP violation detection
- Multi-channel monitoring
- Violation documentation
- Notification workflows
- Enforcement action tracking
- Violation history reports
- Compliance improvement tracking
How It Works
Define MAP policies
Set minimum advertised prices for your products
Configure monitoring channels
Specify which platforms and retailers to monitor
Schedule compliance checks
Determine how frequently to check for violations
Detection and documentation
Automatically identify and record violations with evidence
Alert and notification
Inform relevant team members and create violation cases
Enforcement workflow
Trigger standardized enforcement processes
Resolution tracking
Monitor retailer responses and compliance improvements
Violation Management
MAP Violation Workflow
- Initial Detection
System identifies pricing below MAP threshold and captures screenshot evidence
- Verification
Optional human review confirms the violation is valid
- First Notice
Automated first warning sent to the retailer with violation details
- Monitoring Period
System checks for compliance within defined grace period (typically 24-48 hours)
- Escalation
If violation persists, case is escalated with additional notices
- Enforcement Action
Apply predetermined consequences based on violation history
- Resolution & Documentation
Record outcome and update retailer compliance history
Enforcement Actions
First Violation
- Formal warning email
- Education about MAP policy
- 48-hour correction period
- No penalties applied
Repeated Violations
- Formal notice from legal team
- 24-hour correction period
- Temporary order restrictions
- Reduced promotional support
Persistent Violations
- Final warning notice
- Immediate correction required
- Account review meeting
- Potential dealer termination
Compliance Dashboard
MAP Compliance Overview
92%
Overall Compliance Rate
14
Active Violations
6
New Violations Today
Recent Violations
| Retailer | Product | MAP | Advertised Price | Violation % | Status |
|---|---|---|---|---|---|
| ElectronicsOutlet | Ultra HD Monitor 27” | $349.99 | $299.99 | -14.3% | First Notice Sent |
| DiscountTech | Premium Headphones | $179.99 | $149.95 | -16.7% | Escalated |
Compliance by Channel
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Best Practices
Tips for Effective Price Monitoring
- Focus on Key Products: Prioritize monitoring for your best-selling or most price-sensitive items
- Balance Frequency and Resources: Set realistic monitoring schedules based on market volatility and your team’s capacity
- Set Meaningful Thresholds: Configure alert thresholds that filter out noise while catching significant changes
- Document Your Strategy: Clearly define your pricing strategy and rules for responding to market changes
- Use Historical Context: Analyze price trends over time rather than reacting to isolated changes
- Test Before Automating: Validate pricing rules in test mode before applying automatic price changes
- Consider Seasonality: Adjust monitoring frequency during high-competition periods like holidays
Next Steps
Ready to optimize your pricing strategy? Here’s how to get started: