Catalog Manager with a demonstrated history of working in the automotive data industry. Experience includes PIES and ACES, Introducing New Products, Customer Service, Sales, Retail, Data Entry, Data Manipulation and Data Analysis. Advanced user in Microsoft Excel.
Pricing is one of the three cornerstones of your marketing strategy and is key to your success. Your prices and pricing strategy say a lot to your customers about who you are. Protect your company and your brand by considering these recommendations.
Spend some time creating a Pricing Policy that is easy to understand. Simplify the legal jargon by introducing checklists and briefs. Share the policy with your team and your customers, then maintain accurate prices by keeping your customers updated in a timely manner when price changes are implemented.
Keep in mind that you can choose to implement MAP pricing only for your high-value products if you want to give your customers flexibility with their in-store pricing and incentives with the remainder of your products.
You can also consider seasonal exemptions which can create excitement and boost sales in a limited window.
Work with your data partners, like SEMA Data, to communicate, update, and distribute your price changes quickly.
2. Minimum Advertised Price (MAP) can be one of the most important components of your Pricing Policy.
A MAP policy can help to create an even playing field amongst retailers selling your products, driving value to sales margins, and ensuring your brand isn’t devalued by price wars. Creating this even playing field can help expand your brand growth as even smaller retailers will be able to sell your products without being undersold by the larger retailers.
MAP pricing on your product lines, when consistently monitored and enforced, can protect your brand and the profit margins of both your company and your customers’ companies.
When you choose to implement MAP pricing, you must commit to monitoring, following up, and creating consequences for non-compliance – or reward the compliant retailers. (This could be important if your policy applies to some retailers and exempts others.)
Prices need to be systematically monitored across retailer websites, social media, marketplaces, and price comparison sites. When a violation is cited, a process needs to be in place to address the violation.
Price monitoring service providers, like MAP Services Corp., can help you get compliance of your policy and protect your brand.
However you choose to implement and monitor your pricing policy, consistent enforcement is critical to bolster your MAP policy and encourage retailers to adhere to it. Get to know more about Monitoring and Enforcement here.
When trying to grow a brand it is normal to think more distribution is better. Manufacturers are pumped when they get large enough to make it into the top-tier wholesale distributors. Sales are growing and everyone is happy. During this growth phase, it is hard to be aware of the problems that might lurk just around the corner. With growth in distribution comes growth in unauthorized sellers. There are many “underwear entrepreneurs” who get a data feed from a WD and list all your products at rock-bottom prices on Amazon and eBay. Who are these guys?! ...Read More
Sounds like a loaded questions doesn't it? One of the most overlooked or undervalued answers to this question is "Do you have the stomach to stop selling to a good customer". Consider this "Is this really a good customer if they're undermining your efforts to maintain a fair market for the rest of your customers". Consumers will find and buy your products regardless of the source. Brand integrity, customer service and continuing to bring viable products to market isn't easy or inexpensive but it's what you've built your business on. Don't allow your work to be degraded by sellers who are only interested in a quick buck and could care less about how their actions undermine your hard work. ...Read More
In today's dynamic business climate, price changes have taken on much more importance. Freight and raw material costs are rising quickly and price changes need to happen quickly as well. Fortunately, we make these price changes easy for our clients. It's as simple as sending us an email with the new file and we make it happen. No need to log into a portal and format your file to fit etc. Just send us your price file to ensure enforcement is in sync with your internal price notifications. In addition, we can make sure your new price file is distributed to all your resellers, even the ones that you do not have direct contact with. We can notify all the Amazon and eBay sellers in one easy email making your life easier and also heading off future advertised price violation issues. IMPORTANT: Do not forget to update your data services as well. Updating one and not the other is a recipe for a MAP violation nightmare." Send your price files to; email@example.com ...Read More
Besides monitoring and MAP policy enforcement we also develop a healthy relationship with your compliant sellers.