ashley antonio at j.d. power and associates automotive internet roundtable
TRANSCRIPT
04/15/23
Data Mining for Success
Las Vegas, NV May 18, 2006
Data Mining for Success
Las Vegas, NV May 18, 2006
Providing Pricing Online
Internet Roundtable
Data Mining For Success
Data Mining For Success
2eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
The Evolution of Internet The Evolution of Internet PricingPricing• Began With Request Specific Price Quotes Given by
BDC Reps
• Pros
• Cons
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Data Mining For Success
Data Mining For Success
3eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
Initial Pricing StrategyInitial Pricing Strategy
• Began Sending General New Car Price Quote Templates With “As Low As”
• Pros
• Cons
Data Mining For Success
Data Mining For Success
4eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
Data Mining For Success
Data Mining For Success
5eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
Pre-Owned PricingPre-Owned Pricing
• Priced All Pre-Owned Cars on Internet $1500 Over DVC
• Pros
• Cons
Data Mining For Success
Data Mining For Success
6eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
How We Price NowHow We Price Now
• New Car Prices Established Month by Month by Sales and BDC Managers
• Templates Adjusted
• Price Quotes are Specific and All Fees Disclosed
• Price Quotes Have an Expiration Date
• Offer an Incentive for Immediate Purchase
Data Mining For Success
Data Mining For Success
7eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
Data Mining For Success
Data Mining For Success
8eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
Pre-Owned Pricing NowPre-Owned Pricing Now
• Use an Inventory Pricing Tool to Price Inventory based on the Market
• Pay No Attention to What We Own The Car For
• Inventory is Priced by Marketing Dept and Not Pre-Owned Managers
• Pricing Tool Feeds to Necessary Sites
• BDC Reps Log In to Pricing Tool to Get Pricing for Specific Quotes
Data Mining For Success
Data Mining For Success
9eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006
Data Mining For Success
Data Mining For Success
10eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006