Price Rules Overview
Price Rules are essential mechanisms that establish the selling price of parts within your store. These rules are based on specific pricing strategies, such as marking up the cost price. For instance, if a part has a cost price of $100 and your store implements a pricing rule of Cost+20%, the final selling price of that part will be $120. This method ensures that your pricing stays consistent, competitive, and profitable across all your sales channels.
In this guide, you'll learn how to set up and manage these OEM price rules effectively, ensuring that your pricing strategy aligns with your business goals and market dynamics.
General Price Rule Setup and Management
Accessing Price Rules
- Log into your account at manage.revolutionparts.com.
- Click on the gear icon in the top-right corner to access your account settings.
- In the left-side menu under "Selling Channels", select your store and then "Pricing."
- Click "Manage Pricing" next to the desired template.
Note: Learn more about Pricing Templates here.
Adding New Price Rules
- Select the desired manufacturer from the manufacturer dropdown.
- Click on the "Add New Rule" button.
- Define the Price Rule:
- Select the rule's application scope (e.g., All Parts, Accessories Only, specific SKUs, Lifestyle items, or Tags).
- Set the Price Range based on your Pricing Template (MSRP or Cost).
- Choose the Price Rule type (MSRP -, MSRP +, Cost +, Cost -).
- Enter the percentage value for the rule.
- Click "Add Rule" to finalize.
Configuring Backup Price Rules
Effectively adding and managing Price Rules is crucial for optimizing your profitability. It's important to establish these rules meticulously to avoid any gaps in pricing. Should a gap occur, your Backup Rule will kick in automatically.
- If no Price Rules are configured for a particular manufacturer or dollar range, parts will be priced based on the Backup Rule.
- To configure your Backup Rule, click on the pencil icon next to either the Cost rule or the MSRP rule in the blue box on the top-right corner of the page.
- Change the percentage to the desired value and click the Save Icon to save changes.
Editing or Deleting Price Rules
- Edit existing rules by clicking the grey pencil icon next to the rule.
- Delete a rule by clicking the grey trash can icon.
Price Rules by Tagging
Tagging allows you to set Price Rules for specific types of parts (e.g. obsolete inventory).
- Select Manufacturer: From the manufacturer dropdown, choose the desired manufacturer.
- Initiate New Rule: Click on the "Add New Rule" button. This will open a prompt where you can define your new tag-based Price Rule.
- Define Price Rule by Tags:
- Enter Tag(s): Type in your chosen tag(s), separating multiple tags with a "|". For example, "OBSOLETE | CLEARANCE".
- Tag Application Choice: Choose if your rule applies to any or all of the listed tags.
- Set Price Range: Determine the range to which your rule applies, based on the price base of your Pricing Template (MSRP or Cost). This can be a specific range like $0-10, $10-100, up to NO LIMIT, or a blanket range of $0 to NO LIMIT for the entire catalog.
- Choose Price Rule Type: Choose the Price Rule Type that best fits your strategy (MSRP -, Cost +, and Cost -).
- Enter Percentage Value: Depending on your selected rule type, input the percentage off of List for MSRP-based rules, or the percentage over Cost for Cost-based rules.
- Minimum and Maximum Settings: Depending on your selected rule type, input the percentage off of List for MSRP-based rules, or the percentage over Cost for Cost-based rules.
- Enter Tag(s): Type in your chosen tag(s), separating multiple tags with a "|". For example, "OBSOLETE | CLEARANCE".
- Finalize the Rule: Click "Add Rule". Your new tag-based Price Rule will now be active and visible.