Price levels & Pricing policy
It's normal for your business partners to demand personalized treatment, such as special prices and exclusive distribution rights.
Those in-person meetings where your customers show off their warehouses and then proceed to negotiate prices are meant to give them a feeling that they scored a deal with your company that others wouldn't be able to.
Not approaching each buyer individually means you lose on potential margin gains and there is a big chance you will lose out on many smaller customers.
However, giving each buyer individualized prices means you will have to keep track of different price levels, which is difficult to synchronize across all your sales channels. Then you have to worry about keeping price information confidential to not damage your existing relationships.
Only a few suppliers do this effectively, and the rest?
The rest miss out on opportunities to bring the most value to their customers and maximize their earning potential.
We know this.
So do you. That's why, it is a no brainer that we have built multiple price levels directly into the marketplace and embedded price level requesting directly into the system.
First step in creating individualized prices is to setup price levels. This is such an important part of the process that we have made it a required step right after you input your company details.
Any time a user wants do business with you, they will request a price level to be assigned to them. You will then receive an email that looks like the one below.
All you have to do is click on the link and it will take you to the admin section called Price Requests.
You will not only be able to see exactly who is interested in doing business with you but you will be able to also be able to assign them their own individualized prices or decline their request without having to write a single rejection email.
Aside from entering the page through the email shown above, you will see price requests in the adminDashboard and in the Store management tab right under the Store management section.
When you click on the green eye button, you will see the details of the user requesting prices from you.
Once you assign these users their prices they become your potential customers. Now your key account managers can focus their target on the most relevant customers and not waste time in meetings that yield no results.
Don't forget to submit the changes by clicking the blue Assign Price Level button.
On the other hand, if you do not wish to assign the user any other price levels. You may also decline the inquiry in the same page.
By scrolling below the Approve Inquiry section to find the Decline Inquiry.
It's a dropdown menu so you won't have to figure out how to translate the decline message into the local language of your potential customer.
Once the decline message has been chosen, you will send it by clicking on the red Decline Inquiry button below the drop down menu.
