Spare Parts Price Comparison – OEM, OES and IAM Parts
Sector- Automotive
Business Practice- Market Intelligence, Mystery Shopping, After Sales Pricing
The Need
Competitive vehicle maintenance cost (including parts and service) helps in creating an overall positive vehicle ownership experience, which is critical in customer retentions and acquisitions. Towards this client wished to assess price competitiveness of their spare parts vs. competition.
Our Approach
The methodology adopted for this exercise is mystery shopping wherein transaction price of predetermined list of spare parts across application areas are tracked for Client and Competition models. Dealer, Wholesale and Retail sales channels were covered.
The part list are divided into baskets having similar applications, this ensures that we can obtain prices from the dealership and other trade channels seamlessly. Subsequently, analyses are conducted to determine the price competitiveness. The findings are summarized and shared in PowerPoint file, master database and analyses are shared in MS Excel for future reference. In addition to the report, an Excel based dashboard was also created for easy access and price comparison.
The Outcome
The part list are divided into baskets having similar applications, this ensures that we can obtain prices from the dealership and other trade channels seamlessly. Subsequently, analyses are conducted to determine the price competitiveness.
The findings are summarized and shared in PowerPoint file, master database and analyses are shared in MS Excel for future reference. In addition to the report, an Excel based dashboard was also created for easy access and price comparison.
Client Testimonial
“Competitive spare parts pricing data along with evidences are highly actionable. It helps us to negotiate with our distributors and suppliers based on fair and factual data. Also we are able to provide better value for money to our customers.”
Aftersales Pricing Director