Frequently Asked Question
How can I set up price point (velocity) pricing?
Last Updated a year ago
- Another option to adjust selling prices is to apply Price Point Pricing. Price Point Pricing allows you to adjust the multipliers for an item based on its selling price.
- You can access the price point pricing maintenance screen via the menu path Inventory > 4. Pricing > 1. Data Maintenance > 3. Price Point Multipliers
- PLEASE NOTE: Before you can add price multipliers for a category, you must access the category master maintenance and set the price point pricing flag to “Y”. This is covered in the ‘CATEGORY FILE’ section of this document.
- In this example, for all items in the ALT category, there is a multiplier that applies for all items starting at $0.00, a multiplier that applies for all items starting at $50.00 and a multiplier that applies for all items starting at $300.00.
- When starting out, you first define the start price for which you want the multipliers to apply.
- Then, in the bottom section of the screen, you fill in the multipliers you want to apply for the items falling in to that range.
- These multipliers are applied BEFORE any customer discounts are applied.
- Retail rounding can also be applied to these multipliers.
- Also, you do NOT need to fill in all price levels. If you only wish to adjust specific price levels, ie Price level 1 & 3, only fill in multipliers for price levels 1 & 3.