MAP (Minimum Advertised Price) Functionality in Flashpricer
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Flashpricer is excited to announce the addition of a crucial new feature designed to empower retailers and brands with enhanced pricing strategies: the integration of Minimum Advertised Price (MAP) functionality. MAP refers to the lowest price a retailer can advertise a product for sale, a common practice among manufacturers to maintain brand value and pricing consistency across various selling platforms. With this new functionality, Flashpricer users can now seamlessly incorporate MAP policies into their pricing strategies, ensuring compliance while optimizing profitability.
Utilizing MAP in Flashpricer
In Flashpricer, the MAP functionality significantly enhances your ability to manage pricing strategies effectively. When the MAP setting is enabled in a strategy, and MAP prices are added to products, Flashpricer intelligently chooses the higher value between your minimum price or the MAP as the minimum selling price for your products.
This feature ensures that your pricing strategy is both flexible and compliant with supplier agreements, giving you the ability to easily switch this functionality on or off depending on your current business needs and strategy adjustments.
MAP functionality must be enabled withing the strategy settings to be applied:
Examples of MAP Functionality in Action
When MAP is Higher Than Your Minimum Price:
- Scenario: If the MAP for a product is set at $100, but your minimum price in Flashpricer is $90.
- System Reaction: In this case, Flashpricer will consider the MAP ($100) as the minimum selling price. Your product will not be repriced below this MAP, ensuring compliance with MAP policies while aiming to maximize your profit margins.
When MAP is Below Your Minimum Price:
- Scenario: If the MAP for a product is $80, but your minimum price in Flashpricer is set at $85.
- System Reaction: Here, Flashpricer adheres to your set minimum price ($85), disregarding the lower MAP. This maintains your desired profitability threshold and ensures your pricing strategy aligns with your business objectives.
This dynamic functionality allows Flashpricer users to maintain pricing strategies that are not only compliant with MAP policies but also tailored to their specific business goals.
How to Update Your MAP Pricing in Flashpricer
Flashpricer offers versatile methods to ensure your MAP pricing remains accurate and compliant:
- Bulk Upload: Update MAP pricing for several products simultaneously. If a cell is uploaded blank, the current MAP value is replaced, ensuring your data remains current.
- Integrations: Apply MAP pricing updates through your established integration flows, with the same data integrity safeguards as bulk uploads. Use column header “MAP”.
- UI (User Interface): Directly add or adjust MAP pricing through Flashpricer’s user-friendly interface for immediate updates.
Removing MAP Pricing in Bulk
To streamline operations, Flashpricer facilitates the removal of MAP pricing across your product range:
- Via CSV Upload or Integration: When updating MAP pricing through bulk upload or integration, simply leave the MAP price cell blank. This action will remove the existing MAP value, allowing for a quick adjustment of your pricing strategy.
- Via the UI: Directly remove MAP pricing for individual products within the Flashpricer interface, offering precise control over your product listings.
Furthermore, when MAP values are set or adjusted, they will be reflected in the UI and in the CSV exports on the product page, ensuring you have a transparent overview of your pricing strategies at all times. This combination of functionality and flexibility makes managing MAP pricing with Flashpricer both efficient and effective, allowing you to focus on optimizing your sales strategy and profitability.