Find real threats of your brand
MAP Policy is crucial for your business to retain your market goodwill and solidify the trust among your retailers. MAP violators can be a real threat for your brand value.
What is MAP ?
MAP stands for Minimum Advertised Price. It is the procedure of making and implementing manufacturer’s pricing policy, which is set to a minimum price on which a retailer can advertise product of the brand. But there is no restriction about the rate of selling price but the retailers can’t advertise prices lower than MAP policy in any way, neither physical nor digital.
MAP not only used to bring stability in revenue but also helps in growth of the business.
Why MAP is Important ?
Setting MAP is important because of the following reasons
Ever heard of a luxurious bag for a few bucks? No, right. Because they have a brand value, and everything which is below it is considered duplicate or of low quality. This is what constitutes the brand value in the market, and if you want to make your brand value, you need to set MAP with your retailers.
Brand Value
Have you ever purchased an expensive item just to discover that you could get it elsewhere for less money? You feel duped and unsatisfied as a customer. This is price fluctuation, as prices vary from one merchant to another. Use our solution, which compares costs from different sellers, to make sure your customer gets a flawless experience.
Reducing Customer Dissatisfaction
Giving a competitive price can prove that you are more focused on the quality of the product than on your profit. Having a satisfactory goodwill about product quality in the market can be the winning factor for any business. MAP helps businesses to retain that goodwill.
Increases In Quality Of Product
Why MAP Monitoring Is Important ?
Rule breakers are everywhere.
People who accepts your minimum price policy but behind your back are advertising everything with their own rules. And now when market is spread all around the globe, it is next to impossible to find and track of these defaulters.
But we got the solution for you, by our AI based MAP Monitor where no defaulter will be spared. You can have meticulously build and test list of these defaulter, which can help you to save your brand goodwill and prices.
And on the other hand can take actions against these seller to set an example for those who are thinking of breaking your policies.
Protect Brand Goodwill
With MAP monitor, you can monitor and cross-checks is retailers are selling on agreed prices or not. Which can help you to protect your brand’s goodwill.
Easy Identification of Violators
With MAP Monitoring, you can easily track who are violating you price policy. It’s like keeping tracks of all your seller and retailers on your finger tips. Isn’t it great ?
Reduce Customer's Ambiguity
When everyone is selling the same product on same price, customers will be less decisive about their decisions of buying, which not only helps turning potential leads into clients but also helps to analyze accurate growth of brand.
Keeping Tracks of Retailers
Having list of names who are dealing with, becomes old and less-efficient method of keeping records of retailers. Now you can keep the records without committing any of your precious time to it.
frequently asked questions
1. What is MAP (Minimum Advertised Price)?
MAP’s full form is Minimum Advertised Price, this is normally set by the businesses in their MAP policy to restrict the retailers and reseller from advertising your product in the lowest price. Regardless of the advertisement the actual selling price has no restriction.
2. What constitutes a MAP violation?
MAP violation happens when the retailers advertise a product lower than the mutually agreed MAP price, either on physical market places or on their E-Commerce websites. This can harm the goodwill of the brand and can cause price wars among the retailers.
3. Why do manufacturers enforce MAP policies?
Pricing is the soul of any business and working in this cut throat market where every business wanted to be the number one, you can’t set prices on the basis of your intuition or guess work. For setting the effective price first you should study and analyze the market and competitors and then you can set the right price. Sounds tiring, I know. That’s why give that work to us and focus on your product and brand, we will study the market and manage the price for you.
4. How can I detect MAP violations?
Prodfinity’s dynamic repricing service can be a great help in various business types, including e-commerce sellers on platforms like Amazon, Flipkart, etc. It is also useful tool for retailers, wholesalers, brands, and manufacturers who want to be successful on the reselling market . Additionally, dropshippers can also use it to alter pricing based on supplier costs and market conditions.
5. How frequently should MAP violations be monitored?
With Prodfinity Dynamic Repricing you can control your pricing strategy the way you want. Set the margin you want to keep even when prices are decreasing, set the minimum and maximum pricing standards for your products, as well as you can customize your rules on the basis of competitors prices, market demand and other parameters.
If you want to keep track of you price changes, you can also avail our Semi-dynamic Repricing tool which provides you the effective price suggestions for your product with market analysis and competitors pricing strategy and stock availability.
