Why You Should Coordinate Price Management and Marketing
From the consumer’s standpoint, few things are more negative than getting to the point of sale and finding that the price doesn’t match the marketing. This is why price management software must be integrated and coordinated with what is happening in the rest of the business.
Multiple, Concurrent Promotional Campaigns
There is a lot going on in marketing these days, because now retailers have many more ways to reach out. Multiple, concurrent promotional campaigns need to be transparent and accurate in real time. Retailers need to be able to set different prices in specific circumstances, like geographic zone, web store, or customer loyalty incentives. At the same time, these different prices need to show up for the shopper that sees them and expects a certain price.
Whether it’s a discount offered in an email, a secret sale sent by SMS, a local event, or a web special — price management needs to be on target. This is why software is the preferred price management tool. The days of spreadsheets and manual intervention can’t compete with the reality of a constantly connected market. New selling channels and new consumer buying behavior necessitate new tools for price management.
Integrated Software Coordinates Successfully
ChainDrive Retail Price Management Software is designed to successfully coordinate price and promotion because it is capable of integration with all the channels of a retail business from one end of the product life cycle to the other. For the consistency and transparency needed to satisfy today’s retail demands, the only price management tool that will work is one that can keep up with real time status on every level in every channel.
Marketing has been struggling to keep up with the change in retail shopping behavior, too. The days of blind blasting are over, and personalized promotions are possible. Targeted sales campaigns need to live up to their promise when the shopper gets to the register, or that shopper will leave with negative impression.