In B2B structure the pricing plays a primary role to achieve many functionalities. It can affect the sales of the product and help in increasing profitability.
Hence, before setting the price of the product the sellers or wholesaler need to focus upon multiple perspectives. This will allow the seller to attract the maximum customer.
Strategies of Pricing To Increase Profit-
1- Quantity
The amount of product being ordered by the seller play a vital role in the analysis of the price. That is, the price of the product can be variable as per the amount of product being ordered by the buyer in the wholesale market structure.
In such cases, the Webkul’s RFQ plugins can play a much vital role-
2- Association Time Duration- Loyalty
In order to sustain the loyalty of buyer the vendors need to set the price of the product. The price of the product must be effective enough to attract the maximum customer.
This will help in building a strong relationship as now the customer can have a special price. The store owner can introduce module-
This will allow the creation of a price list as per the price rules which depends on the product, category, minimum quantity, and minimum price.
These price list will target the customer group or customer. Thus, this will allow different prices for different customers such as retailers, wholesalers, vendors, new customers, etc.
3- Payment Cycle
In B2B structure the payment cycle will also determine the cost of the product. Hence, the admin also needs to look in the time duration at which the wholesale-seller will receive payment from its buyer.
The B2B module is quite huge wherein there is a bulk purchase of the product. This will allow the payment of the product or service in a particular cycle. So, price monitoring becomes a major component here.
4- Distance
In the Wholesale market structure, the distance plays a vital role. Now, here if the product is at a distinct location from that of the buyer then it can cause a great difference in price. Thus, any transportation cost will be a part of the product price.
5- Festival/Offer season
The seller in B2B structure can add-in discount, offer, and various such sales policies to allow a customer to easily get attracted. This amendment in the price of the product can add a lot to the profitability of the store.
So, that’s all for the Role of Wholesale Pricing Strategies in B2B. If you still face any sort of issues or query. Please don’t hesitate to share the same with us at support@webkul.com.
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