What are the benefits of using a MAP Monitoring software?

Gepost op 21 October door Simon Gomez in MAP monitoring


The online shopping world moves at the speed of light. Changes happen quickly, and we are not only speaking about the price of the products. We are talking about the new technologies implemented by many companies to increase sales, revenue, and customer retention. If you are a retailer, manufacturer, or webshop owner, you need to be on your A-game every time and able to adapt quickly to new market tendencies.     

One of these new tools and tendencies that online stores are using is MAP monitoring software. Their functions are to know if your sellers are infringing the minimum advertised price (MAP). But what is MAP? 

MAP is the lowest price a retailer can sell your products to customers. For example, you sell notebooks, and your manufacturer sets a MAP price of $5. That means that you must sell it at $5 or more, but never less than that value.      

It is necessary to have MAP monitoring programs because many retailers sell your products at low prices, and most of the time, we don’t notice this. Since they are not your authorized ones, they can charge whatever price they want. But having MAP monitoring software brings more benefits to your company than you can imagine.      

1- Brand protection  

Brand image is essential to any company. Customers pay close attention to what is happening not only to your products but to your company in general. So, when buyers see your products offered at different prices through different vendors, they don’t like it. That leads to customers having a negative view of your company and thus affecting your brand image. According to Forbes, consistent brand presentation across all platforms increases revenue by up to 23%.      

Therefore, having software like MAP monitoring allows you to have control over this. You can see which retailers are underselling your products and tell them to make adjustments to the prices of your products. Having the same prices on your products in different stores allows you to have a solid and strengthened brand value.          

2- Control over market and team    

With MAP monitoring software, you know about what is going on with the prices of your products. Like we said before, if any seller is offering your products at a lower price, you can know this immediately and contact them.     

With PriceTweakers, you can know what your team is doing to respond to MAP violations. In the account manager tab, you can see which company committed MAP violations and give them a message alerting them about it. You can assign one person in your company to follow that process.     

But the best thing about it is that you can monitor the progress of your employees. You can know everything they are doing regarding MAP violations. You can identify which employee took action or not. Did they contact the vendor? Or in what stage they are regarding the MAP violation. In other words, you can know if your employees are doing their job. 

3- Discover your weak and strong links  

If you are a manufacturer, MAP programs identify which retailers are relevant for your business. If you continuously have to alert your sellers to change the prices on products because they are breaking the MAP policies, it is time to take action against it.     

With that information, you can either terminate your link with that retailer or give them one last chance to do things the right way. Not everything is negative for retailers. You can also see which sellers are going their job. That means following and respecting your agreements. You can reward them for doing a good job.        

4- Prevents price wars  

Price wars happen when a company continuously lowers the prices of its products, aiming to be the lowest price in the market. That price drop, below the market value, forces the competition to do the same. Both companies will compete with each other to have the lowest price, and that kills their margins.     

MAP programs allow you to know the lowest price you can sell your products without affecting your profits and brand value in the process. Once you establish this price, your retailers can’t sell your products below that price you determined. In consequence, your seller will not enter into silly pricing wars. Additionally, you will protect them and your brand. 

Conclusion 

MAP programs offer retailers, manufacturers, and distributors great benefits to their business. Retailers can know at which prices they can sell products without breaking any agreements with suppliers. That will also protect your brand value because you will have consistent prices all along and prevent companies from entering price wars.     

PriceTweakers has the best MAP monitoring software in the market. You can see all the vendors violating your MAP prices, and you can contact them right away. On top of that, you can also see the progress your team is making regarding this. You can know if they reached the vendor and the stage your employees are in concerning MAP violations with sellers. The report pages are user-friendly and give you the best information you need. Are you interested? Follow us for more information. 


Share this page

Gerelateerde blogposts

What are the most common mistakes in pricing strategies?

Gepost op 21 October door Simon Gomez in Pricing strategies

What are the benefits of using a MAP Monitoring software?

Gepost op 21 October door Simon Gomez in MAP monitoring

How to create a competitor price monitoring plan?

Gepost op 21 October door Simon Gomez in Pricing strategies