A strategy is simply a repricing rule that sets out how you operate the tool. To add a strategy, click ‘Strategies’ and from the drop down options, click ‘Add Strategy’.
Next, select a name for your strategy, similar to the Marketplace Store Name, there are no strict guidelines on this but make it relevant as it is a reference point. For the ‘Strategy Type’ select ‘Custom’ as this is the option that gives you the most control over your repricing. Once you have clicked this, a series of options should open below this. For simplicity we have created a table below to talk you through these-
|Min/Max Price||Formula Based (see page 7 for in depth definition)||Use to calculate the minimum and maximum prices automatically|
|Manual||Manually control the minimum and maximum prices of listings|
|Beat By||Beat by||The option to beat a competition. If selected you can go on to choose to beat a competitor on a percentage basis or a monetary value|
|Beat me by||Choose this option if you wish to remain above the lowest price|
|Match Price||Choose this option to always match the lowest price by not drop below it|
|When there is no competition||Do not reprice/Min/Max||Select whether you want to sell at the maximum margin, lowest or exclude a listing from repricing when there is no competition|
|When competition matches your min price||Do not reprice/Min/Max||Select whether you want to stay at your minimum, stop repricing or revert to maximum price|
|Item Condition||New/Used/etc||Select the category of products you will be selling in this strategy|
|When competition is below your min price||Do not reprice/Min/Max||Select whether to halt repricing, stay at your minimum margin or revert to maximum|
|When your own price matches your min price||Min/Max||You can either select to stay at the minimum price as it stands or revert to the maximum price|
|Exclude/Include Sellers||Enable/Disable||This is a feature you will come back to. Once a strategy is live, under the ‘Seller List’ under the Menu option of ‘Strategies’, all of the sellers you are competing against will be listed. You can then choose, if you wish, to exclude certain sellers and their products when repricing in future using the ‘Seller Group List’ feature. More information on how to use ‘Seller Group list’ is at the end of this chapter.|
|Buy Box Settings|
|Don’t lower my price||Enable/Disable||The application will detect when you have ownership of the Buy Box. It is up to you whether you want to continue repricing when in possession of the Buy Box or whether you want to stick at the current price by clicking either Enable or Disable|
|Competition Type||FBA, Buy Box, MFN, All||There are 4 types of competition listed in this feature, Buy Box (those products in the Buy Box), FBA (sellers who are fulfilled by Amazon) and MFN (sellers whose products are fulfilled by the merchant).
We recommend competing against all of these categories of sellers by selecting ‘All’ as you will cover the market but if you wish to be more selective, for example competing only against Buy Box Sellers or only against MFN & FBA sellers, this feature will allow this.
|Exclude Amazon as a Seller||Enable/Disable||This will exclude Amazon as a seller when repricing if you do not want to reprice against Amazon’s own stock|
|FBA Beat By||Enable/Disable|
|Featured Sellers only||Enable/Disable||This setting will give you the option to exclude or include sellers who are in possession of the Buy Box for some of their stock|
|Amazon Beat By||Enable/Disable|
After these steps are complete, click ‘Save’ and this strategy will be added to your strategy list as below. This can be edited at any time, but changes made to a live strategy will take effect on your next repricing cycle, so be wary of this.
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