DigCal

Features DigCal

One of the critical factors for a business to succeed is to accurately price its product or service.
Indeed, pricing the product or service is the toughest in the initial stage of the business cycle, whereby the business has to consider a few key factors, including target customer, competitors’ prices, quality of the product and pricing strategies.
Inaccurate pricing strategy may create problems that the business may never be able to overcome.
Thus, under pricing can have a disastrous impact on the sales and cash flow.
In contrast, over pricing is also detrimental as customers may switch to other products offered by competitors.
Hence, it needs a systematic technique, sufficient knowledge and skill for accurately setting a product’s price.
However, many businesses including MSMEs (Micro, Small and Medium Enterprises) were deprived of these skills and because of this they failed to sustain specifically in the start-up phase.
Therefore, this project aims to assist MSMEs by developing MrDigCal for helping them in setting accurate prices for their products and services by considering several factors (namely cost, profit margin, competitor pricing and pricing strategies.
MrDigCal will also allow the MSMEs to regularly review their pricing in real time and thus help them to be agile with economic vibrations.