Amazon product pricing strategy

1. Capture data, capture competitive product data under keywords
2. Clean the data, remove products with sales volume less than 20, and remove products with abnormally high prices.
3. Calculate quartiles based on all pricing
4. Divide sales and profits by 4 quantiles to evaluate where sales and users are mainly concentrated (choose those with low competition and large market)
5. Combine profit and cost to choose from these three ranges, and then set the price based on this

Tips: The newly launched products are 8% cheaper than the expected selling price. At the same time, the single digits at the end of the price should be 9, 7, 5. Use 99 for the decimal point.

Like this, my pricing range should be between 31-38.

Based on the principle of charming numbers, pricing can be 39.99, 37.99, 35.99.

Then the initial price can be set to 35.99. More on that later.

The test data about charm numbers is as shown below