Understand Your Products and Their Behavior in Ecommerce

What Will You Learn on This Course?

By the end of this course, you will be able to:

1. Understand the fundamentals of product pricing in eCommerce: You will learn about the special characteristics of retail, the importance of product choice and price comparison, the role of traffic and advertising, and the dynamics of market and competitor pricing. 1
2. Understand the Impact of Profit and Revenue Share on eCommerce Product Pricing: We will explore different products as profit and revenue drivers, and how to incorporate this understanding into cost allocation and informed pricing.
3. Leverage product groups in eCommerce for strategic pricing: You will learn how to prevent cannibalization, use value classes, and optimize pricing within product groups.
4. Identify and choose Key Value Items (KVIs) for an effective pricing strategy: We will cover what KVIs are, how to identify them, and how to choose them while adapting to the digital retail era.
5. Understand product cannibalization in retail: Gain insights into whether product cannibalization is negative or strategic, and understand the associated challenges in retail.
6. Strategically avoid cannibalization: Learn to use techniques such as market segmentation, demand forecasts, data-driven basket analysis, and unique product features to avoid cannibalization.
7. Master the ABCs of product classification: We will cover how to conduct an ABC analysis, its benefits, limitations, and solutions.
8. Build a profitable and complementary product portfolio in eCommerce: We will delve into complementing your portfolio, encouraging cross-selling and bundling, removing non-performing products, and maintaining an optimal catalog size.