What is a Market Research Tool?
What is a Repricing Tool?
Major Difference between Both Tools
The market research tool is an information-tool. Although users can see the pricing a given product has sold at, they would still need to analyse, compare and determine the best price for the product themselves. On the other hand, a repricing tool is an action-tool. Not only does it identify competitors’ prices but it also makes recommended adjustments to your product’s price automatically. It analyzes and reacts to information as soon as it becomes available.
In this case, it might seem like a repricing tool is more useful but it’s only because repricer focuses specifically on the pricing aspect, while market research goes beyond that to include keywords, SEO strategies, trend projections and more. Each of them serves a different purpose for users – one gives a broad overview of information and one does all the price management.