5 June 2007
Major multi-channel retailer uses Cogenta NetPrice to track product prices from 11 competitors
A major multi channel retailer is using Cogenta NetPrice to track 11 competitors' prices on 2000 key consumer electrical products, a small segment of its entire product range. Before Christmas, it plans to obtain a complete market view by extending the service further, not only increasing products checked, but also the number of competitors tracked.
It is their plan to reduce its reliance on local and manual processes, cutting down the time it takes for price checking agents to visit online and retail outlets. The convergence of pricing between online and instore prices in consumer goods retailing is also pushing the need for precise data.
Cogenta NetPrice will also help customer communications and sales process, plus has a positive impact on buyers. Douglas Orr, CEO of Cogenta, explains, "By using NetPrice, buyers can see product prices of competitors. If, for example, they see that a particular competitor is selling a line for 10% less than their own price, then there is reason to believe that the competitor is getting a better deal from the manufacturer. With this powerful data, buyers are gaining regular and reliable bargaining power, making a vital difference to margins".
* Cogenta does not name its customers. This is because gathering commercial intelligence, like any other kind of intelligence, is a confidential activity. Its technology is designed to gather intelligence covertly, with a minimum-impact approach, to ensure the highest levels of accuracy and avoid alerting target sites to the enquiry. Similarly, it does not talk publicly about its customers.
Customers include three of the UK's top 20 retailers, and several of the world's top 100, as well as a number of major global corporations in IT, financial services and other fields.
For further press information, contact:
Kay Phelps or Pam Evens
The PR Department for Cogenta
T: + 44 1932 789524
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