PRICE MANAGEMENT
Nothing in a store changes as often as prices. Managing that process so it is simple and a profit generator is essential. Different stores face different competitive situations, even differing customer price sensitivities. Circulars and other sales vehicles that reduce prices on a temporary basis and reset them to normal, automatically, with no buyer involvement, is essential to ensure expected margin. Introducing a new size, flavor, or item in a category should not require any effort to maintain appropriate pricing relationships within that category.
Our price management system enables any merchant to maintain the pricing logic they desire. Illustrations include:
- We can chain products. For example, the merchant can group all Gerber's baby food together, so that changing the price of one will change the price of all.
- The merchant can link products through a set of predicates. This enables the system to lower the price of everything green for a St. Patrick's Day sale.
- The merchant can establish sibling relationships. The system can link a new product to an existing one, and use the history of the existing product to price and predict the usage of the new one.
Keeping prices automatically disciplined and logical is another imperative within the system.
- Check that price per ounce for a large size, (gallon), is less than the price per ounce for a smaller size, (pint).
- Edit to ensure that the price set for private label is less than for a brand name.
- Our system has the ability to support any number of price zones. A single store, for example, could be a price zone. In a normal price zone, the price of any SKU in any store can vary for competitive or any other reason.
- Establishes a price effective date and price reset date for any number of dates and products.
- Create additional edits as desired by the merchant.
- The system ties to the in-store system for automatic and timely transmission to stores.
