This topic seems so simple that almost everyone thinks that they know how to price their product in such a way that the price of the product is competitive in the market but at the same time good enough to make you handsome amount of profit. In this article, we will talk about how we can properly calculate the right price for your products on Amazon.
Now the basic concept of pricing is simple and it goes something like this. Base price + your charges + profit = your selling price. Now, this looks very simple on the surface. One might think that it is simple addition of different number and you will get the final number for your selling price. In reality, it is complicated and it could take hours of your time if have no idea of what you are doing. In this article, we will talk about how you can use few tools to save your time, money, and energy.
There are basically three elements of costing and they are as follows. Now there are other things that are part of this but we will not go into depth about this in this article.
- Upfront costs (samples, cost of goods, shipping, photography)
- Variable costs (FBA fees, storage fees, returns etc)
- Marketing costs (promotions and pay per click)
Now that you have a basic understanding of the pricing let’s talk about some of the tools which will help you to figure out the pricing in an easy and fast way. Let’s start with number
Jungle Scout.
Jungle Scout is tool is one of the most detail-oriented tool on this list. This tool not only gives you details about your product pricing, but it will also explain these costs to you so that it becomes easier for you to understand. This site has some free tools and other paid tools. Some of the free tools include.
- Profit calculator.
- Sales estimator.
- Listings grader.
While their paid products have a collection of many tools which will help you grow in a matter of months.
AMZScout.
AMZScout is a tool for people who don’t want to go deep into pricing details. Using this tool is quite simple you just have to past the ASIN of the product in the tool and it will do the rest of the work on its own. You have the ability to use this product on its own website or as a chrome extension. Now comes the best part. IT IS FREE.
SellerPrime.
Here is another free tool for you all, SellerPrime has the best of both the tools which came before it. It is free and it provides a lot of details for you to study and understand. Now they have both websites where you can use this tool or a chrome extension. However, if you desire absolute and full details then they also offer a paid tool as well, and this paid tool comes with a 7-day trial period so you can try and see if you like the product or not.
Viral Launch.
Now Viral Launch is for people who want things to be simple and straight to point. In tool all you have to do is paste your product’s URL or ASIN and hit calculate. That’s it, there is no complicated calculation or lengthy report to read and understand. They also have their website and chrome extension for even more ease of use. If you wish to get more information then they also offer videos as well as an option to sign up for learning events so that’s a plus.
Amazon
Now there is no better way to go back to source. Yes amazon also offers a calculator. Now if you are selling on amazon then it becomes very easy as it already has all of the data which it needs for the calculation, but even if you are selling even then you can put estimated figures and it will give how much you are going to make in profit. It also explains in details the basic concepts of pricing in amazon. You can even sign up for a webinar conducted by amazon.
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