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We often seek advice or need to cross-check while making an important decision. It usually happens while we shop online. We compare and check price quality – delivery time – service – and all other relevant factors. “Too many cooks in the kitchen” only create chaos. It is we who eventually need to decide who will prepare the food. The best way to execute with efficiency is to set up teams where communication is frequent among a select few and deliverables are met at ease. We need to involve representatives from ‘different teams’ at some point before roll-out for socialization purposes to get their perspective and insights into possible road bumps. We also require comparing various websites/applications to have a confirmation on the best available price.
We have price comparison websites for shopping, insurance, airlines, cars, electronics and mobile phones that offer plenty of information and make the buying process smoother.
Earlier consumers used to wander from shop to shop to get what they liked. It was a matter of features, quality, price, and brand name. Information is readily available on the internet; consumers still compare products while making their purchase decisions. Consumers compare (1) electronics, (2) appliances, (3) streaming devices, (4) vehicles, (5) beauty products, (6) home decor items, (7) vacation trips, (8) toothpaste and likewise.
It is significant for a business owner to understand these various consumer comparison habits to strategize visibility with these consumers who are on an active lookout for sellers. Let’s plunge into how consumers compare prices to make their purchase decisions.
There are two pre-requisites to starting an online price comparison website:
If a person is looking for an airline, they would like to know about – Airline, Airport, Time of departure and arrival, Travel time, Layovers, Type of aircraft and Ticket class (economy or business).
If a person is looking for a smartphone, they would like to know about – Model, Screen size, Storage, Camera specs, Display resolution, and Carrier.
Therefore the main features should be:
They collect data via
There are three entities involved in the process: Consumer, Retailer, and Affiliate Partner. Affiliate marketing implies that the price comparison website owner has permission to share links to the vendor. Such ‘links’ have a fee and a unique identifier to know the whereabouts of the customers.
Some price comparison websites also make money with advertisements or by promoting specific vendors.
Consumers can get what they want at the price they seek and can afford. Offline shopping becomes stress-free if you compare prices beforehand and select the best store to get your product at the best price. Skip the queue at the cash counter and receive an unbiased opinion and save a lot of time and money. Know about our approach to creating a price comparison website!
Vipin Jain is the Co-Founder and CEO at Konstant Infosolutions and is in charge of marketing, project management, administration and R&D at the company. With his marketing background, Vipin Jain has developed and honed the company’s vision, corporate structure & initiatives and its goals, and brought the company into the current era of success.
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