Data Tracker: Price your inventory to compete aggressivelyPosted on
Boat Trader’s business intelligence reporting suite offers a variety of data analytics to help dealers gain a better understanding of their local markets. Included in the analytics, the Pricing by Model report lets dealers examine their inventory pricing compared to other local dealers with the same inventory.
BoatTrader.com represents the largest marine classified site in the U.S., and data for this report is derived from dealers currently advertising on BoatTrader.com.
Pricing inventory more competitively translates into more leads to dealers. When pricing used or new non-current inventory, it is important to know what the local market will support. This real-time data can be used to identify that threshold and adjust pricing on specific models to help move inventory faster. Dealers who utilize business intelligence reporting are more likely to increase their leads and see higher sales.
This article originally appeared in the July 2010 issue.