In this tutorial, we will look at advanced pricing rules. This allows you to create different rules according to the cost range of the products you are selling. For instance, it may make the most sense to assign a fixed markup value to lower-cost items while applying a multiplier markup value to more costly items.
On this page
Accessing Global Pricing Rules
From the My Easy Monogram dashboard, click on the settings button in the bottom left of your screen.
From here, click on the Global Pricing Rules tab on the top center of your screen
With the Global Pricing Rules tab selected, you will now click the toggle switch next to advanced pricing rules to reveal the advanced pricing rules structure.
Setting Pricing Ranges and Markups
Just like our Global Pricing Rules, you can choose your pricing structure to be a markup by multiplier or markup by fixed value according to the cost you are paying for the product.
For our first rule, we will set the pricing range to be from $0.00 to $9.99. We suggest making the ranges for price and compare price the same.
As a note, always make sure to make the ranges different by $0.01 so the system doesn't get confused on how to apply markup values.
With our range determined, we will now select our markup types and markup values. For this lower price range, it may be in our best interest to add a fixed value to the pricing. In this example, we will add a fixed value of $5.00 to the price while adding a fixed value of $10.00 to the compare price.
This method will show customers an instant savings of $5.00 from the compare price for lower value items.
Adding More Pricing Rules
Now that we have defined the advanced pricing rules for one range of products, let's create a second rule for more costly products.
Click on the Add Rule button on the top right part of the advanced pricing rules section.
After clicking the Add Rule button, another table will appear as Rule 2. This is where we will configure a secondary pricing rule according.
For this rule, we will focus on the price range from $10.00 to $29.99. As with our previous rule, we want to make sure that the price ranges for price and compare price are the same and we differentiate. We also want the prices to have a difference of $0.01 from other rules.
For this price range, we are going to use a multiplier markup type.
Since we set our global pricing rules to assign a multiplier markup value of 1.5 and a compare at multiplier markup value of 2.0 we are going to make these a little higher. Let's go ahead and set the price markup multiplier to 1.75 and the compare price markup multiplier to 2.25.
It is important to remember that a markup multiplier value of 1.0 is the cost you are paying for the item.
In this example, if an item costs you $10.00, the price to your customer will be calculated at $17.50 and then the compare price will be calculated at $22.50, showing them a savings of $5.00 from the compare price.
Lastly, don't forget to save your work! Before leaving this page, scroll up to the top and click the Save button on the top right of the screen.
What Happens if Price is out of Range?
This may happen from time to time. If you have an item that does not fall into your advanced pricing rules, the system will revert back to the global pricing settings that you have defined and use that to make the proper calculations.