How do I Create a Pricing Matrix for a Customer?

Summary

This article explains how to create a pricing matrix for a customer.

More Information

You can define how stock items are priced for customers in a number of ways. When you create a stock item, you can enter a "Retail Price" which would normally be the price that a customer off the street would pay. If you deal with trade customers, you may have a discount structure, or price matrix, in place for them.

Platinum can give you great flexibility, but you should use it with due care and attention. Think carefully about the maintenance of any pricing structure that you put in place so that a price increase for some or all of the items does not involve you having to carry out huge swathes of changes, potentially at very short notice!

Creating a Price Matrix

Whether you are creating a matrix for one or more customers, the following method will work.

Go to " Stock Control Maintenance Options Account Pricing Information".

Price Application

In this section of the screen, you decide on the ranges of items to which you want to apply the pricing structure.

• Change the "Account" drop-down to show 'Code prices'.
• Enter the customer's code if known or search for the account.
• Press <Search> this will then show any prices already on this account.
• Click [Add] or press <F6>.
• Decide how you want to price items for the customer.
• At "Stock", you have the following choices:
  • 'Code' - choose this option to give a spot discount or price on a specific stock code to a customer. For example, you may have to compete very strongly on price with certain stock items, so you agree a fixed price or greater discount with your customer on this one item.
  • 'Group' - choose this option to give a discount on a specific stock group. For example, you may want to give different percentage discounts on different stock groups depending on how well you buy, how competitive the market for the items is, or just because you can!
  • 'All' - choose this option to set an over-riding discount. For example, you may want to give a customer 10% discount on all items not covered by another type of discount.
• At "Subgroup", you have the following choices:
  • 'None' - No other filter is applied.
  • 'Analysis' - you can discount or price items using an Analysis Code. For example, you may offer a discount on most items in a Stock Group, but if certain items in this Group are either very slow or very fast moving, you want to offer a different discount or price on these items. Setting an Analysis Code on these items will keep them in the same Stock Group for general use, but you can apply a different level of discount.
  • 'Attribute' - this works in much the same way as Analysis Codes above, but uses the Attributes instead of the Analysis Codes.

Price Calculation

In this section of the screen, you decide on the pricing method and level of discount.

• At "Description", enter an brief explanation of this pricing method if it is necessary. You can leave it blank if you so wish.
• At "Price method", you have the following choices:
  • 'Sales Price' - you can use any of the selling prices that are available.
    • When you choose this option, you can then set the extra fields shown:
      • "Discount" - set the percentage discount that you want to offer. Note that the discount can be negative if you want to increase the price!
      • "Show Discount?" - decide whether you want to show the discount to your customer (always a good idea unless your discount is negative!).
  • 'Cost Price' - you can use the cost prices that are available, which are: 'Standard cost price', 'Average cost' or 'First In, First Out'.
    • When you choose this option, you can then set the extra field shown:
      • "Markup" - decide by what percentage you want to increase the cost price of the item to create the selling price. For example, if your chosen cost price is '£100' and you set the "Markup" to be '100%', the selling price to the customer will be '£200'.
  • 'Fixed Price' - you can set a price specifically for this customer or range of customers here.
• Click [Done] and accept to set this pricing choice.

Simply repeat the steps above for each variety of pricing that you want for the customer.

Pricing per Account Group

A quick way of applying discounts is to add customers to a group and set up the discount structure for the group. When you add a new customer, simply by adding them to the group the discount structure will be automatically applied.

Go to " Stock Control Maintenance Options Account Pricing Information".

• Change the "Account" drop-down to show 'Group prices'.
• Enter the group to use e.g. 'TRADE'
• Follow the steps to create the discount structure.

The account group field can be found in here.

See also

• How can I give discount on stock items?
• How do I Change Prices in Platinum?
• How do I Set up Price Codes?
• Selling stock at point of sale

Feedback

Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful? 'Yes' or 'No'

Keywords AND Misspellings

price, customer, account, matrix, markup, mark up, discount, selling, cost, retail, trade