Price-setting in relation to Competitors and IBN members

Goals:

    Please click the [ Mark Complete ] button at the bottom of this page when you’ve achieved these goals: 

  • Effectively check out your competition and their prices

  • Use our Price Comparison as an aid to setting or evaluating your own prices.

 

Why?

Barcodes are an internationally-accessible product and there are multiple barcode vendors, so when setting prices we have to be especially careful to take both our Competitor and our other IBN network member prices into account.

Clearly, if you set your prices too high for your market, and too high compared to your competitors, you won’t make the sales that you could make, and if you set them too low you’ll lose out on potential income.

So price-setting is not a casual task.

However, you don’t have to do this alone! We monitor prices constantly, and have some resources to help you make price decisions.

 

Checking out your competition and their prices 

Are there any other barcode sellers in your country?

Is there a GS1 office in your country?

Compare your barcode prices against the prices that your competitors charge (especially GS1, if they are in your country).

GS1 is our biggest competitor, so ideally your prices should be lower than GS1 prices.

 

Matching your prices to other IBN member prices

It’s good for your website prices to roughly match either

– Nigeria https://barcodesnigeria.com/ or
– Egypt  https://barcodesegypt.com/.

 

Using our Price Comparison

We’ve made a Price Comparison Google document chart for each IBN website, so that you can compare your website prices with the following:

  • Prices of internationalbarcodes.com
  • Your local GS1 (or GS1-US if there is no GS1 in your country)
  • Similar IBN websites in your region/continent.

The Price Comparison chart is one of the tabs in the Sales Summary Google document that we create for each licensee (and use to calculate your license fees).

We email a document link to you after you start receiving some website sales/payments.

IMPORTANT: If you haven’t received a link to this document yet, please email us to request one ([email protected]).