Major Product Pricing Update Coming Soon
InkSoft is proud and excited to announce one of the biggest system changes in the history of the company: We have redesigned and reengineering product pricing. The main goal of this project was to consolidated and simplify product pricing related function.
As a by-product of our changes to Product Pricing, we re-organized the product section of the InkSoft admin portal. This reorganization will streamline setting up and managing of all your products. Products now have a dedicated section for Pricing. Here your product feeds will be streamed in periodically. On this tab you will be able to manually override these prices with a fixed price, or you can choose to apply a Pricing Rule.
What is a Pricing Rule? New pricing rules will allow InkSoft users to create rules that apply mathematics upon product cost. These rules can also be quantity based. For instance, one type of rule allows you to add % margin to cost. You can configure a 200% margin on quantities of 1-12, a 190% margin on quantities of 13-48, etc. This is just one example of many different ways you will be able to create Pricing Rules. When we approach release date, we will be providing detailed videos to show you how to create and apply rules to your products.
We will be posting some additional information soon to prepare users for this upgrade.
Thanks for working so hard Inksoft! This is exciting!
Jonathan,
Thank you for your reply, we just uploaded a video which explains a bit more. Over the next couple weeks we will be answering questions and preparing for the release. This is an open invite to answer any questions our customers have on this topic.
So does this mean that things will only be done on a percentage based pricing? I do like the pricing grids as they are now.
But I think this could help in other areas as well.
Currently, pricing is based on the first print being a fixed price while any additional prints is a percentage off the first print. Is it possible to create a pricing rule where the first print and any additional prints are a fixed price?
For example this is how inksoft currently works with our setup:
1 shirt – 1 side is $20. adding a second print location is based on a percentage off the first print. So 50% off is $10 or a Total of $30 for a two sided print.
12 shirts – 1 side is $15. adding a second print location is $7.50 or a total of $22.50 for a two sided print.
Is there a way to create a setup like the following:
1 shirt – 1 side is $20. add a second print location is $5 for a total of $25 for a two sided print.
12 shirts – 1 side is $15. add a second print location is $5 for a total of $20 for a two sided print.
Thanks.
Hello Rod,
This pricing update tackles product pricing and is a re-organization of the product management pages as well. Once we have completed the product side of pricing we will be exploring options for print pricing. Note though, you are combining quantities with your prices, and that is exactly what kind of options we have added to product pricing.
Examples of Rule Types and the Math behind them:
% Markup on Product Quantity
100% markup at a quantity of 1
$2.00 cost * (1 + 1) = $4.00 store price
50% markup at a quantity of 1
$2.00 cost * (1 + 0.5) = $3.00 store price
Ҭ% Markup on Product CostӬ
100% markup $2.00 cost * (1 + 1) = $4.00 store price
50% markup $2.00 cost * (1 + 0.5) = $3.00 store price
% Markup on Product Price
Example:100% markup $2.00 price * (1 + 1) = $4.00 store price
50% markup $2.00 price * (1 + 0.5) = $3.00 store price
ҬMargin on Product Quantity
Example:100% margin at a quantity of 1
$2.00 cost / 1 = $2.00 store price
50% margin at a quantity of 1
$2.00 cost / 0.5 = $4.00 store price
ҬMargin on Product CostӬ
Example:100% margin $2.00 cost / 1 = $2.00 store price
50% margin $2.00 cost / 0.5 = $4.00 store price
Margin on Product PriceӬ
Example:100% margin $2.00 price / 1 = $2.00 store price
50% margin $2.00 price / 0.5 = $4.00 store price
$ Markup on Product QuantityӬ
Example:$5 markup at a quantity of 1
Now, for the quantity rules you will be able to set quantity break points within the rule itself. For example:
Example of % Markup on Product Quantity
QTY % markup
1-11 100%
12-23 90%
24-71 80%
72-143 75%
144+ 70%
The product pricing permutations are almost endless. You can create any number of pricing rules and at the product level you choose which rule you want to apply to that product SKU. If you don’t want a rule and you just want a fixed price than you can do that as well. When this goes live our customers will be able to price their products any way they can realistically imagine.
It doesn’t look like there has been much discussion here. Thank you for opening up the opportunity to increase profitability on the product level, but we see print pricing as being our problem at the moment.
I understand this discussion is based on product pricing and Matt brought up the point that print pricing changes will possibly follow. With that said, I hope you guys look deeply into how the current print pricing is set-up. It seems that we (internally at our company) can no longer use the break method, due to our main online competitors (e.g. Customink.com, etc. ) pricing items at the piece level.
We’ve had to adjust our pricing structure based on more of a “manufacturing set-up”, not breaks, in order for us to offer our products at a competitive level with the likes of Customink.com and other online competitiors. We’ve had to think outside the box of traditional screen print pricing based on breaks. So, in order for us to maximize our investment in Inksoft, the print pricing model really needs to be re-imagined, to allow Inksoft’s customers to compete at a different level than the traditional brick and mortar company.
I use Customink.com as a reference due to their marketing reach. In this day and age, we are no longer competing on just a local level, but nation wide, soon to be global. As I understand Inksoft’s model, you are providing us the tools to compete with online companies.
I’ve played around with the print pricing and haven’t been able to achieve this level of pricing, besides creating thousands of breaks. The only way I can figure this could be implemented is possibly having a price break set for the initial break per printing method (e.g. screen printing set at 24 pieces), then having a way we could add a percent discount per piece added. ???
Is there a better way to achieve per piece breaks? Is there a way for us to use what is currently available through Inksoft to achieve this type of print pricing now? Maybe we don’t know how to use the system to make the correct adjustments to achieve these results? Is there anything that you can share with us that will help us achieve per piece breaks? Is there a combination of price settings within Inksoft that would allow us to achieve this type of print price break?
I’m sorry for posting this here as I am sure there are forums better suited to this post, but I wanted this to reach you and not become lost in a see of voices. I appreciate your efforts and would appreciate anything that you could add. It would be helpful and greatly appreciated. Thank you in advance!