individual assignment 2
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- The situation takes place at the end of a business fiscal year - Ryan, an online shoes store owner has been very busy moving his inventory around but some of the items are not selling out as quickly as he wanted to
- I need to find a way to sell the last pieces of my inventory online quick
- He is checking around to understand his traffic and also if he needs to discount some items and to what price
- Since Ryan is not very performance marketing savvy, he searches for a “Deals app" on the Shopify portal in the hope to find the answer
- https://apps.Shopify.com
- Deals app
- As soon as the app is installed it opens up, scans all of the items that are left on the site and looks for the search keywords used on the internet for the same kind of products to see if they are trending or not.
- https://shoestore.myshopify.com/admin/apps
- Congratulations - Your Deals App has been installed successfully
- Step 1 - Scanning iventory items - COMPLETEStep 2 - Seach Keywords trends - IN PROGRESS
- After the app finishes the research on the trend, it also brings up a competitive analysis for the same items and how much are they being sold by the competition.
- https://shoestore.myshopify.com/admin/apps
- sellmyshoes.com Ineedkicks.com sneakersforever.com shoescollector.com
- Product Name
- Competitor Name
- Nike Pump Shoes
- Suggest a Price
- Current Price
- $99.99
- $69.99
- $67.99
- $66.99
- Competitor Price
- $65.99
- Finally the app suggests a price for each product and allows the store owner to proceed or not with the price scheduling.
- https://shoestore.myshopify.com/admin/apps
- Product Name
- Nike Pump Shoes
- Proceed with promo
- $59.99
- Suggested Price
- Keep the same price
- The owner is thrilled to see that within a few clicks he was able to have a solid strategy to sell the rest of the inventory that was not selling.
- This is so easy, I can focus on the business and not spend time researching the best strategy for pricing
- Few days later, the store owner is happy to see that his strategy has worked and that he almost sold all of the collection he intended to liquidate.
- 80% of items sold!!
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