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

Data Mining For Success

Data Mining For Success

11eLEAD CRM a division of FRESH BEGINNINGS, INC. © 2006

In ClosingIn Closing

• Internet Shoppers Use Internet For Convenience

• Respond to Their Quote Request With a Quote

• Honor Your Quote

• Value Price Your Inventory based on the Market