Owning a brand or being a manufacturer means taking charge of your products from production right down to the consumer. There is a policy set to ensure that the distributors or resellers do not advertise below the price floor known as Minimum Advertised Price. So how you as the manufacturer or brand ensure the policy is not violated? By the use of map monitoring software you can check who is and isn’t following the policy. This is a good way to ensure compliance with the policy with ease.
Of course there are other ways you can monitor by periodically checking online presence such as websites and ads. This is possible but it can be time consuming considering how vast the World Wide Web is. That is why a monitoring software is a great option since it involves tools that will tell you about the product pricing on a marketplace. It will also tell you the list of resellers that are violating the policy. The purpose of this MAP policy is to protect your brand. If there are odds you are going to be successful, you will need to enforce the policy. Most MAP software will allow you to customize the settings to suit your needs.
What are the benefits of the monitoring software?
The software is designed to take the hard tasks away from you and you don’t have to worry about doing it yourself. A self-enforcement program can be tedious and time consuming. You will probably need to hire extra support to help you keep up with online presence. That means more money spent on paying the support employees. Once they are able to catch those in violation the next step is completely on you, you decide on how to act on the information collected.
The manual process is not exactly fun and it will just take too much time before you can really keep up. You will also not be guaranteed that you will be able to catch all those in violation. This means that your brand will be in jeopardy at any one time. Eventually your brand will slowly deteriorate especially your image. You will be at risk of losing business relationship as more and more people violate the policy.
Plus, with the raging market, you will have to worry about counterfeits, imitation and fake products. This can be very tedious. An indication of a possible imitation is your products being sold below the price floor. Cheap products are usually to gain a larger audience and also to sell the products quickly before the consumer realize that the product is not genuine.
With a software, you won’t need extra support so thus saving money. Most of the work is automated and can go on and on even without your supervision. It is a continuous process that runs all day and all night thus the odds of missing those in violation are highly unlikely. Depending on the software and the measures you have put in place, once the software finds the violators, it will act as prescribed.
Eye opening to the market
The software provides you with a platform where you can see how the market is. This is in terms of response to your products, any important suggestions by the consumers, any sales opportunities for growth and if there is a market expansion for your products.
The information gathered by the monitoring software helps you identify the violators and weed them out. At the same time, you identify the non-violators and you know exactly who to sell your products to. You can build better relationship with this group of sellers to help your brand. If a seller is ensuring that they do not go below the price floor for their own benefit, then they are definitely the group you want to work with. You can create a powerful and strong growing business relationship with your distributors.
The market has unlimited opportunities that you can use to grow. With the software you can easily identify your strong points and your weakness. If your product is limited to a particular set of audience, you can find ways to increase your audience base. You also can see what other relative products are faring and if whether or not your price floor is too high or too low.
Dealing with MAP violators
The software offers you with the option of how to deal with the MAP violators. In a manual set up, it can be difficult to enforce any practice against them. Part of weeding out the MAP violators is acting on them accordingly. it would be pointless to identify them then do nothing about it, it beats the point.
With different monitoring software there are options on how you can employ the best practice to protect your brand. Other than that, it can provide means on how the consumers can reach you if they find sellers violating the policy.
The best way to deal with MAP violators and enforce the best practice is to have a platform that gives you an all-round clock Intel. This includes the resale prices, and ensures that your products are protected.
When you don’t have to worry about the MAP policy being violated, you focus more on the growth of the business. Having to worry about your products being below the price floor means that your brand will always be at stake and you can’t grow business wise. It will take away the time for growth and could eventually lead to the downfall of your company or brand.
There is so much you can gain and learn when you have a monitoring software. It is a great option for your company and its success overall. You definitely don’t want to lose your image in the market so get the best monitoring software in the market. It will not just help you protect your business but also lead to the overall growth of the business.