Perhaps the only aspect of NeuroPrice that isn't 100% intuitive is the logic we use to prevent you from underpricing yourself.
The problem when repricing: You have the lowest price. You run NeuroPrice to price $X below the lowest offer. This results in you underpricing yourself by $X every single time you reprice. This is of course a bad thing.
Our solution: Built-in logic that makes it impossible to underprice yourself.
The simplest way to explain our formula to solve this problem is this:
When NeuroPrice sees multiple lowest offers with the same price, it can still raise your price, or match, but never lower. Anytime a "competing" price on Amazon matches the your price, NeuroPrice will never lower the price for that item.
When NeuroPrice detects a "competing" offer that is the same price as yours (or multiple offers), and the rules call to raise a price, NeuroPrice will comply and raise the price.
However it will be impossible for NeuroPrice to lower a price when one or more competing prices are detected that are the same price as the user's price. This, again, prevents you from competing against (and underpricing) yourself.
Notes:
When you have the lowest price, and there are no other sellers with the same price, the 2nd lowest price will be treated as lowest.
When you have the lowest price, and there are other sellers with the same price, and you select "match lowest overall price," the price will not change.
To explain the logic a different way: When you have the lowest price and there are no other sellers with the same price, the your price is completely ignored from all calculations. When you have the lowest price and there are other sellers with the same price, then your price is considered in the calculations (those offers are considered competitive even though they are the same price).
Real-world examples to illustrate how your items will reprice
Example #1
Your price: $11
Competing offers:
Lowest price: $10
2nd lowest $11
3rd lowest $12
Your pricing rule: "Price $1 above 2nd lowest offer.
Item will reprice to: $12
Example #2
Your price: $11
Competing offers:
Lowest price: $11
2nd lowest $12
3rd lowest $13
Pricing rule: "Match lowest overall offer."
Item will reprice to: $12
Example #3
Your price: $11
Competing offers:
Lowest price: $10
2nd lowest $11
3rd lowest $12
Pricing rule: "Price $1 below 2nd lowest offer."
Item will reprice to: $11 (no change)
Example #4
Your price: $11.50
Competing offers:
Lowest price: $10
2nd lowest $11
3rd lowest $11.50
Pricing rule: "Price $1 below 2nd lowest offer."
Item will reprice to: $10
Example #5
Your price: $11.50
Competing offers:
Lowest price: $10
2nd lowest $11
3rd lowest $11.50
Pricing rule: "Price $1 below lowest offer."
Item will reprice to: $9