So, how can a brand protect itself from the race to the bottom?
Many brands have implemented a Minimum Advertised Pricing (MAP) policy. This policy requests that retailers do not advertise prices lower than a designated threshold. A MAP policy is not price fixing. It still allows for retailers to offer coupons and specials for products that are in the cart. The major benefit of MAP pricing is that the product value and brand identify are maintained.
However, simply having a MAP policy doesn’t protect your brand if sellers don’t honor it.
It’s important to ensure that sellers are abiding by your policy, even when you aren’t looking. MAP monitoring software can help brands monitor pricing and identify MAP violators. This kind of price monitoring tool can provide insight into sellers, both authorized and unauthorized, and help to influence your competitive pricing strategy. Perispect is a minimum advertised price monitoring tool that provides these insights through an easy-to-use interface and email alerts. Perispect empowers manufacturers to take control of their brands’ online presence by identifying which sellers are selling your product and alerting you when your price policy has been violated.
Learn more about how Perispect can help you control your brand here.