In our related article “Challenges for suppliers of CNC consumables – using pricing models to stand out from rivals” we discussed the difficulties associated with using pricing schemes to incentivise customers to make orders, and encouraging them to use preferred channels when placing an order. Here we explain how NetSuite can help to make this process simple by setting up price levels and price groups.
As a vendor it is often beneficial to encourage customers to shop in a certain way or for certain items, particularly if there is a monetary incentive to do so. You may want to encourage your customers to place orders online by offering an additional discount over placing the order over the phone. Using NetSuite you can set up “Price Levels” which will automatically set online orders at one price and telephone orders at another. Customers will view the online price in your web store after they log in.
Setting up multiple price levels enables you to have greater flexibility to set different pricing for different types of customer. They can be set either as a discount or a fixed cost. They can work in conjunction with Price Groups as well as different channels of sale.
Price Groups allow you to assign customer-specific price levels for certain groups of items. You might like to offer a customer a higher discount on a certain group of products than others. For example, you may wish to offer a plumber preferential rates on plumbing supplies, but they would pay more for electrical supplies than an electrician would.
Using NetSuite, you can separate plumbing and electrical suppliers into their own “Price Group”. This gives the customer better rates on their primary purchase whilst also making it convenient to purchase other goods at the same time.
These features make NetSuite a very flexible and powerful solution to complex pricing models, and could make your business a much more agile and attractive destination for your customers’ needs.
If you would like to find out more about how NetSuite could help with the challenges associated with using pricing schemes and incentives, then please don’t hesitate to get in touch with one of our experts.
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