Price Group Codes

Action: PRICEGRP

Obsolete Feature for ProfitSystem v9 and later

Introduction

This is a WinTPS & WinTPOS feature only.

Price group codes are used to create rental accessory price packages. Accessories are inventory styles that have a rental Item Type code assigned that is checked as being an accessory item.

The utilization of Price Group codes is optional. Not using these codes will cause the Rental Orders/Upgrade report to not report accessory upgrades properly. Price Groups use the concept of Not to Exceed pricing. For example: Lets say two accessory packages have been created, named Basic with ranking 1 max price $50 & Fashion ranked 2 max. price $70. A rental order can contain an unlimited number of Basic accessories and the total price of those will not exceed $50, no matter if their individual rental prices exceed $50. If the order contains one item from the Fashion accessory group then the max price jumps to $75 for all accessories on the order.

Price group discounts are calculated each time a rental order is modified. The system will check the charges for the order and automatically apply ticket adjustments to obtain the correct net price.

Price Groups are a pricing tool to create up-sell opportunities with customers, thus creating increases in rental income. When a customer knows the price for enhanced accessories will not exceed a certain amount s/he will become more likely to select the more expensive options.

The price group pricing used, is determined by the retail/wholesale pricing type setting in the Store/Accounts form for the Pickup Account on a rental order. The Wholesale Max. Price is used by the system when the Store/Account pricing type is 'Wholesale' & (Retail) Maximum price when the type is Retail. In a situation where the pricing type is NOT defined within the Store/Account form then the system will default to the (retail) Maximum price entry.

Set-Up

Give the accessory package a name, then assign a maximum price, then rank the price group. Specify the price group code to specific rental style on that style's Inventory Rental Tab.

Fields

Name...A descriptive name for the price group. You might use Basic*, Fashion, Premium, Luxury, etc. * Basic: The name Basic (case is important) is word that has special significance to ProfitSystem®. This word is utilized by the Rental Orders/Upgrade report to represent your opening accessory price point. This report will count all orders with accessory codes other than Basic as upgrades to rental orders. Thus it is required when setting up Price Groups to use Basic & assign it to the appropriate rental accessory styles that are normally included on any rental order.

Maximum price...The price cap for all accessories in this price group for Store/Account Type/Pricing Retail, whom use retail rental pricing.

Wholesale Maximum price...The price cap for all accessories in this price group for Store/Account Type/Pricing Wholesale, whom use wholesale rental pricing.

Priority...How the price groups are sorted for evaluation by WinTPOS & WinTPS;. Lower priority codes (those with the lower number) will be evaluated prior to codes with higher numbers. The maximum prices for the lower priority codes should not exceed the maximum prices or the higher priority codes, i.e. 1 is the lowest (or cheapest) maximum prices, 2 is higher max. prices, 3 is higher still, etc.