MAP MONITORING & Sales
MAP stands for Minimum Advertised Price. MAP is a predefined price set by the manufacturer or brand below which retailers must not advertise a product. A Minimum Advertised Price (MAP) is required to create impartial competition among all distribution networks and for brands to enhance their image and placement and protect it from brand disintegration.
With rising competition in the eCommerce business, the manufacturer’s profit margin and brand prominence might be at a high prospect. Currently, millions of unproved resellers on eCommerce websites are destroying the image and integrity of the products online. The resellers shackle the selling dormancy of a brand and eventually disturb their profit margins by selling products at prices lower than the MAP. At this point, Map Monitoring can be very handy for business.
Big names in eCommerce retailers for example Amazon, which entertain unverified resellers, aren’t striving to put a stop to the infringement of Minimum Advertised Price (MAP). If one reseller does not follow MAP policy, the vigorous pricing algorithms may create a drop in product sales across all platforms. Moreover, selling a product below MAP also affects the value of that particular product as well as the image of the brand. Without Map Monitoring, consumers might find it disappointing to purchase from a particular brand. Furthermore, short-term price variation also badly impacts the legitimacy of a brand.
No one will be willing to pay a high price when the same product is available at a comparatively lower price from other resellers.
IMPORTANCE OF MAP MONITORING:
MAP Monitoring has many advantages and can be of utmost importance in many ways:
- Assist small and medium sellers to compete with established brands
- Helps to maintain the worth and integrity of a brand
- Secure the profit margins of the business
- Maintains equal competition among all the distribution channels
- Obstruct under-pricing of the product
Boost Brand Margins with MAP METHODS
Map monitoring can be done by two methods:
- Manual MAP Price Monitoring
To do the MAP pricing manually, brands have to follow various steps. The process of tracking the price manually is dependent on MAP policy. These include:
- Detecting all the sellers across different channels and monitoring their prices. You can note down the URLs of every seller in a sheet to monitor it at equal intervals.
- If anyone violates the policy, you must contact and warn that reseller.
- Check if that particular reseller has adjusted the price of the product to MAP
- Maintain a record and keep following those violators who haven’t adjusted pricing.
- A final warning can be given.
- Automated MAP Price Monitoring
In automated MAP price monitoring companies use tools to collect data automatically. These tools are a fast way to gather more data in a short interval of time. Automated tools can provide:
- List of resellers who are selling your product
- Price at which they are selling and advertising the product
- Marking the sellers who do not follow MAP pricing
How Digital Shelf Analytics Plays its Role
Digital shelf analytics, also called DSA means steady analysis of eCommerce data to gain perception into the performance standards of a digital shelf. This assist retail business to stay one step ahead of the competition and optimizing their digital customer contact points.
Importance of Digital Shelf Analytics:
DSA helps brands that have eCommerce stores to track multiple sales channels. One of the biggest advantages of Digital Shelf Analytics is that it assists brands to build their online presence through distinguishable products. Hence end-user experience and visibility can be enhanced by optimizing the product pages.
Digital shelf analytics tools are highly in demand because of the data they can analyze to give real-time understanding. This includes:
- Reviews and responses of products
- Data on promotions to recognize how campaigns are progressing during peak and off-peak hours.
To Sum Up,
MAP Monitoring and Digital Shelf Analytics software enable the e-commerce community to strive better in the market and build a strong mark by analyzing the competitors’ pricing. To enhance eCommerce visibility and increase the profit margin it is significant to use AI-driven software. Get the best price optimization technology from Intelligence Node today!