Before you explore the specific features and functionality of Monsoon Marketplace, it’s helpful to get familiar with these key concepts and terms:
- Pricing Strategy
- Dynamic Pricing
- Fixed Price
- Home Market
A pricing strategy is a set of criteria that defines the price and competitor settings Monsoon Marketplace uses to position your listings in a way that best fits your business needs. The software comes with several default strategies to get you started, or you can create custom pricing strategies of your own.
Dynamic pricing describes the process that Monsoon Marketplace uses to continuously evaluate your inventory against the settings you’ve defined, and to make changes based on market activity. You can control whether these changes are made at the individual item level or across large groups of your inventory.
If dynamic pricing does not meet your needs, you can set a specific fixed price for an item that will not be changed by Monsoon Marketplace. This can be applied to individual items, or across large groups of your inventory. We generally recommend that new Monsoon Marketplace users start with a fixed price when first listing inventory, to limit the number of variables involved in tracking and managing inventory at launch.
A market is an online sales channel where you can sell your inventory. Monsoon Marketplace supports selling on the following markets:
- Amazon US, UK, FR, DE, and CA
- eBay US and UK
- Rakuten.com Shopping
Your home market is the Amazon market Monsoon Marketplace uses to determine:
- Catalog information for your inventory records (such as Title and Sales Rank)
- Base pricing data (such as Market Price and MSRP)
- Currency format displayed by your system
Your home market is determined by the region of your Microsoft Windows operating system and will be Amazon US for US-based sellers, Amazon UK for UK-based sellers, and Amazon CA for Canada-based sellers.