This block adjusts the SYMSON price such that it is not changing by more than an accepted percentage from the currently used price.
One tool for your whole company. Free for teams to try.
This block adjusts the SYMSON price such that it is not changing by more than an accepted percentage from the currently used price.
This means: if the SYMSON price is smaller/larger than the currently used price with more than the percentage indicated by the user, the SYMSON price is set to the currently used price decreased/increased by the percentage indicated by the user as the maximum accepted change.
List Cap Percent: User must submit a positive percentage value indicating the maximum allowed price change.indicated by the user as the maximum accepted change.
If the Price Elasticity model finds that an increase in price is recommended, the price change cap feature allows users to make this change gradually.
If you have set up a pricing strategy that combines two or more features, complex pricing logic may result in large. price changes this feature keeps large price changes in check.
Let’s say a grocery store employing dynamic pricing with SYMSON, wants to keep prices of essential goods like food staples and produce such as bread, milk, eggs, etc. stable. However, changes in production cost, inventory and supply chains can cause the price to fluctuate often.
They can use SYMSON’s price change cap feature to make sure that any changes in cost are reflected slowly over a period of time, rather than fluctuating by a large amount over time. This ensures that there are no sharp drops in demand due to sudden and large price increases.
A retail store uses SYMSON to manage their prices. They use the price elasticity feature to find their optimal price for a piece of clothing and notice that it’s higher that what they are currently charging. However, they do not want to increase the price suddenly and cause confusion amongst customers. Instead they use the price change capping feature to gradually increase the price with each cycle until they reach the optimal price.
This block adjusts the SYMSON price such that it is not changing by more than an accepted percentage from the currently used price.
This means: if the SYMSON price is smaller/larger than the currently used price with more than the percentage indicated by the user, the SYMSON price is set to the currently used price decreased/increased by the percentage indicated by the user as the maximum accepted change.
List Cap Percent: User must submit a positive percentage value indicating the maximum allowed price change.indicated by the user as the maximum accepted change.
To prevent drastic price changes within a short period of time. This feature in SYMSON limits the degree by which prices can change in each pricing cycle
HOW TO USE THIS FEATURE
Users can use this feature if they are looking to increase prices or have applied two or more pricing strategies to a particular product assignment. This feature prevents customers dealing with a jarring price change within a short period of time. It can encourage price acceptance over a gradual time period.
If the Price Elasticity model finds that an increase in price is recommended, the price change cap feature allows users to make this change gradually.
If you have set up a pricing strategy that combines two or more features, complex pricing logic may result in large. price changes this feature keeps large price changes in check.
One tool for your whole company. Free for teams to try.
To prevent drastic price changes within a short period of time. This feature in SYMSON limits the degree by which prices can change in each pricing cycle
HOW TO USE THIS FEATURE
Users can use this feature if they are looking to increase prices or have applied two or more pricing strategies to a particular product assignment. This feature prevents customers dealing with a jarring price change within a short period of time. It can encourage price acceptance over a gradual time period.
SYMSON’s versatile pricing engine allows you to combine this feature with other pricing strategies or apply across different layers of your pricing process.
Price Change Capping for a Grocery store
Let’s say a grocery store employing dynamic pricing with SYMSON, wants to keep prices of essential goods like food staples and produce such as bread, milk, eggs, etc. stable. However, changes in production cost, inventory and supply chains can cause the price to fluctuate often.
They can use SYMSON’s price change cap feature to make sure that any changes in cost are reflected slowly over a period of time, rather than fluctuating by a large amount over time. This ensures that there are no sharp drops in demand due to sudden and large price increases.
Price Change Capping for a Retailer
A retail store uses SYMSON to manage their prices. They use the price elasticity feature to find their optimal price for a piece of clothing and notice that it’s higher that what they are currently charging. However, they do not want to increase the price suddenly and cause confusion amongst customers. Instead they use the price change capping feature to gradually increase the price with each cycle until they reach the optimal price.
This block adjusts the SYMSON price such that it is not changing by more than an accepted percentage from the currently used price.
This means: if the SYMSON price is smaller/larger than the currently used price with more than the percentage indicated by the user, the SYMSON price is set to the currently used price decreased/increased by the percentage indicated by the user as the maximum accepted change.
List Cap Percent: User must submit a positive percentage value indicating the maximum allowed price change.indicated by the user as the maximum accepted change.
If the Price Elasticity model finds that an increase in price is recommended, the price change cap feature allows users to make this change gradually.
If you have set up a pricing strategy that combines two or more features, complex pricing logic may result in large. price changes this feature keeps large price changes in check.
Let’s say a grocery store employing dynamic pricing with SYMSON, wants to keep prices of essential goods like food staples and produce such as bread, milk, eggs, etc. stable. However, changes in production cost, inventory and supply chains can cause the price to fluctuate often.
They can use SYMSON’s price change cap feature to make sure that any changes in cost are reflected slowly over a period of time, rather than fluctuating by a large amount over time. This ensures that there are no sharp drops in demand due to sudden and large price increases.
A retail store uses SYMSON to manage their prices. They use the price elasticity feature to find their optimal price for a piece of clothing and notice that it’s higher that what they are currently charging. However, they do not want to increase the price suddenly and cause confusion amongst customers. Instead they use the price change capping feature to gradually increase the price with each cycle until they reach the optimal price.
