Car
and general ability to capture data or information specifically for pricing and
price management has never been put in place. Data and information has only
been done generally in all organization parameters thus there has been a
serious pricing data collection as car and general market executives and sales
people are responsible for the giving of red-light i.e. relaying information
only meetings which are held very Monday morning.
Need
to develop database
The
need to develop a database is however recognized to bring out the organizations
ability to capture data. As earlier discussed car and general is in no place
whatsoever to collect information. Creation of a database will make sure that
all useful data or information collected effectively.
The
database should often be reviewed and support to test its ability in the
collect of data especially the pricing and price management are. It should
however encompass collection of data or information from the different
perspective like competitive pricing friends in the market, market growth and
pricing mechanisms/ strategies which competitors use among others
The
database itself should avoid complicated as most do become a success due to the
following qualities;
a) Simplicity
b) Understandable
c) Cost effective etc
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