MarketTime enables two forms of Automated Item Price Changes: Price Structures and Price Codes. Price Structures allow volume-based pricing tiers for all customers and Price Codes allow you to assign special pricing for specific customers.
Both methods can be managed in your Item Import or by editing individual items in MarketTime. If you utilize both Price Options, MarketTime will prioritize the Price Code over the Price Structure.
NOTE: While both can exist on an item, only one can be applied at a time (e.g. if you assign a Price Code, Volume Pricing no longer applies).
For more information on importing items, please see this article if you are Agency and this article if you are a Manufacturer. Our latest Item Import Template may be found HERE
What are Price Structures (aka Volume Pricing)?
Price Structures are volume-based pricing tiers that force an item's price to change based on a designated quantity. If you have products that are discounted once the buyer orders a certain quantity of items -- this will be the Price Option for you.
Price Structures are used by creating two columns; the first of which is "Price Structure Quantity 1" that designates the first quantity at which the price should change. If your item should be discounted when a buyer orders 6 or more, you would put a 6 here.
The second column is "Price Structure Price 1". This field is the price that should be applied when the Price Structure Quantity 1 is met. If your product should cost $5 after 6 pieces are ordered, you would put a "5" in this field.
You can continue to use "Price Structure Price" and "Price Structure Quantity" up to 5 times -- for a grand total of 6 pricing tiers including the default Minimum Quantity and Unit Price.
When a Price Structure/Volume Pricing is present, pricing automatically updates accordingly when added to an order/basket:
What are Price Codes?
Price Codes are individually-selected pricing tiers that allow retailers to be given a special price based on a variety of reasons. If you have products that should be discounted due to VIP/Long-time buyers or members of a buying group, this is the price setting for you.
Price Structures are used by creating a column with a "Price Code 'Letter'" in the column's header. Your first Price Code will always be Price Code A, your second Price Code B, and so on. In MarketTime, Sales Agencies have the ability to change the names from "A" or "B" to whatever they choose, which you can read more about HERE.
Just list the price that correlates for each special tier, and Sales Agencies will have the ability to assign them as a default setting for customers as they build orders in MarketTime!
For more information about how to utilize Price Codes, the process is as follows:
1. Create Price Code names - This step must be done to ensure your "familiar" names of each pricing level are set prior to import of the values.
2. Import Price Code information - This happens at the same time you upload your general product information by including the Price Code A, B, C, etc. columns that correspond to the Price Codes you set up in the step previously.
3. Use the Price Codes - Price Codes may be utilized in a couple of different places:
- Outside of an order from the Manufacturers tab within each Customer. This allows you to assign the customer their Price Code for the Manufacturer in question.
- During Order Entry, within the Basket. This allows you to use the Bulk Edit feature to assign all products to their Price Code for this customer, which should prompt you to save it for this customer going forward.
When selecting a Price Code from the Basket, it will update the price accordingly: