Data Application Scenarios- Reasonably Formulate Quote Strategies

Price is a crucial factor in achieving profit. Establishing a viable pricing strategy is one of the fundamental requirements to ensure a company's sustained growth. Timely optimization of quotation strategy is also an important gauge of the enterprise's business viability.

Customs data helps master peer's quotation, ensure profit margins, adjust quote strategies timely, and provide business insights for more marketing decisions.

Case:

A well-known Chinese chemical company came into contact with a very powerful US buyer in the industry through the exhibition. There should be broad space for cooperation between the two parties.

However, despite several years of tracking and communicating the quality and strength of its products through various displays and promotions, this buyer has never placed a large-scale purchase order. This suggests an issue in some area, but the Chinese company remains unaware of the exact reason.

Solution:

Subsequently, this Chinese company analyzed purchaser' import data and uncovered the root of the problem. It emerged that this buyer had been buying from several Chinese suppliers before 2022, but started to purchase from Vietnam since 2023.

The company analyzed the buyer's procurement costs based on Vietnam's export data, and discovered that their purchase price was marginally lower than the quote provided by their team.

P1. Import statistic of US buyer / P2 Import details of US buyer

Data Servers

Conclusions:

1. The US purchaser values Chinese products highly, having procured from China suppliers for several years, and continues to maintain a consistent purchasing volume.

2. The rise in tariffs on Chinese goods by the U.S. has resulted in higher costs, Therefore the purchaser has to seek procurement from Vietnam.

Therefore, the Chinese company formulate a tiered pricing system that takes into account the buyer's purchasing power, buying volume, and cost and profit factors and successfully secured a big order from the U.S. buyer.

Young businesswoman going to make handshake with a businessman -greeting, dealing, merger and acquisition concepts.Happy business colleagues in modern office.

Summary:

1. The use of data can provide quick insights into changes in purchasing patterns and price range.

2. Only by adjusting the quotation timely and formulating a reasonable quote strategy can obtain larger orders while ensuring a reasonable profit margin.

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