Price Markup Tool
The Price Markup Tool allows you to manage your pricing of your products that appear on your Website or Marketplace listing. On the New IS 3.0 Interface? Click Here.
Quick Intro Video:
Intro to setting your price markup for your products based on the wholesale cost, MSRP, and more.
The purpose of this tool is to give you the ability to adjust the products prices in bulk to allow you to manipulate the feed to best fit your business needs. This tool allows you to mark up in various different ways depending on what you deem best and what you'd like to take into consideration for
Frequently Asked Question's:
Can I include shipping and dropshipping fees?
Yes, we provide you with the capability to add both shipping and dropshipping/ order processing fees to your products overall price to accurately account for those costs.
Here in the fixed dollar addition, it can be best utilized by placing the cost of shipping that your supplier has discussed with you. Once entered, it will be added to your base price settings and will be factored into your items overall price.
This area is where you will identify if your supplier has discussed including a dropshipping or order processing fee. If your supplier has said that it is an included fee mark ‘yes’ and we will automatically add the fee that we have in our system for your supplier to the price.
What’s better, discounting from MSRP or marking up from wholesale?
Marking up from MSRP or Wholesale cost is something that would be based off of user preference. There is no real “right” or “wrong” it’s based off of what fits your business best. Things to take into consideration are your suppliers prices, other resellers of the same products prices, any additional fees that may be included, and if you’re asking for any subscription cost from your customers or other sources of income that may cover additional costs.
Can I markup on specific categories?
es, we do give you an option to mark up based off of a specific category. If you go to the “Category” tab enable the “category specific pricing” toggle and it will add a column to that tools dashboard interface to the far right.
You then have the option to
- Markup by flat dollar amount
- Markup by flat percentage
- Tiered dollar amount
- Dollar discount from MSRP
- Percentage discount from MSRP
What is MAP price?
MAP price is the Manufactures Minimum Advertise Price. This is set by Supplier/ Manufacturer and is an amount that resellers agree to not advertise below when they agree to sell the suppliers products. You can always mark up from this price by clicking this.
This will then allow you to mark up from the MAP price by a flat percentage or a flat dollar amount.
My products are being marked lower than my price settings... Why is this happening?
Two things to check when you notice that this is happening. One would be your "Price Cents Value" and the other would be your "Prevent Price from being set below wholesale cost".
When looking at your "Price Cents Value," if you have it set to $0.00 it will round down to whatever the base dollar amount is for the wholesale cost. For example: If you have items that are marked at $10.99 wholesale and you have your settings marked to $0.00 it will round down to $10.00.
When looking at your "Prevent Price from Being Set Below Wholesale Cost," just make sure it's marked as such.
How can I test my pricing rules?
You have one of two ways to test your pricing rules that you just set. One way would be by looking down at the floating "example product" that we have in the bottom right hand corner of the screen. It looks as such:
The second way would be to use the "Price and Filter Test" tab. This allows you to put in a random SKU that you may fall within the category of the prices or categories you may have been working on editing. Once you feel satisfied with the edits you've made to your prices and categories look up a random SKU that would be affected by your changes and search it.
What is the purpose of the “price override” function?
This tool was designed to be of benefit if you're wanting a few items to go on sale, or to be marked up, or just different from your set price markups. The SKUs that you add for price override, those items will be set strictly at the price you set them at. They will not switch back to the original price settings until you remove them from this list.
Here's an example: So lets say you have 10 items that you want to put on sale for $20 flat cost. You add those 10 items SKU numbers to the price override and set the price to $20 and that will be their price, our system will not add any of the other pricing filters that you've set to your other products for those 10 products until you take those items off of that list. So if you have any other pricing markups or discounts set up in your main settings for those 10 items those settings will not apply to them.
If you have any questions or concerns about any of this information listed above please don't hesitate to ask.
Steps to submit a support ticket:
- Login to your InventorySource.com account.
- At the bottom of the left hand panel you'll see "Help"
- Under Help, click “Contact Us”.
- Fill in your question and submit your ticket.
Our staff will respond in 24-48 hours. Please try to be as specific as possible about your question, including the Batch you are working on, which error you’re seeing, etc.