1. Purpose
This policy outlines the principles and practices used by ONNELIK POSITIVITY PRIVATE LIMITED to price products sold on our e-commerce platform.
It ensures pricing is fair, competitive, and aligned with market standards while maintaining profitability and customer satisfaction.
2. Scope
This policy applies to all products listed for sale on our website (https://onbazaar.in/), including first-party and third-party/vendor-supplied products.
3. Pricing Objectives
- Ensure competitive and fair pricing.
- Maintain sustainable profit margins.
- Reflect the value offered to customers.
- Comply with legal and regulatory requirements.
- Enable flexibility for promotions and market changes.
4. Pricing Strategy
4.1 Cost-Based Pricing
Prices are set based on:
- Product cost (COGS)
- Operating expenses
- Desired profit margin
Formula:
Price = Cost + Markup
4.2 Market-Based Pricing
Pricing may be influenced by:
- Competitor pricing
- Market demand and supply
- Industry trends
4.3 Dynamic Pricing
We may use automated tools or algorithms to adjust pricing in real time based on:
- Competitor prices
- Inventory levels
- Customer demand
- Time-sensitive promotions
4.4 Psychological Pricing
Prices may end in .99 or .95 (e.g., $19.99) to enhance perceived value.
5. Promotions & Discounts
- Promotional prices may be applied temporarily.
- Discounts must have clear start/end dates and be transparently displayed.
- Crossed-out or comparison prices must reflect genuine former prices.
6. Third-Party Seller Pricing (if applicable)
- Sellers must adhere to platform pricing guidelines.
- Price gouging, misleading discounts, or fake reference pricing is prohibited.
- The platform reserves the right to suspend listings with non-compliant pricing.
7. Policy Review & Updates
This policy shall be reviewed annually or as required by changes in business strategy or regulations.
All updates will be communicated to relevant stakeholders and sellers.