To make it easier for you to automate your pricing decisions with Automate Pricing, Amazon has created pre-defined rules for you. Simply add SKUs to a pre-defined rule to start repricing.
Best Price Rule automatically calculates the prices based on multiple factors including similar product prices, historical selling prices, Buy Box eligible prices and customer feedback for your products, within the Minimum and Maximum price guardrails you set.
The Competitive Price rule by Amazon is a rule that offers pre-defined configurations recommended by Amazon to increase your likelihood of being the Featured Offer. The Featured Offer is the offer selected when the customer clicks the ‘Add to Cart’ button on the product detail page. The Competitive Price rule matches the Featured Offer price for the same ASIN and conditions. In addition, it will continue to reprice after you update prices elsewhere.
To edit a pre-defined rule, create a new pricing rule here.