By Ashley Reyes
Manufacturers often use pricing policies to establish brand value and increase consumer demand. Whether it’s establishing a Minimum Retail Price (MRP), or a Minimum Advertised Price (MAP), creating a successful and profitable pricing policy can be tricky. In fact, many manufacturers give up on pricing policies after an initial failed attempt.
Experts shared details and advice about pricing policies at the recent SEMA Show. Recordings of two sessions related to pricing policies are now available at www.SEMAShow.com/education. Both videos feature Rich Barsamian, vice president of sales and marketing at Advanced Clutch Technology, and Eugene F. Zeleck Jr., senior counsel at Taft Stettinius Hollister LLP—both who have extensive experience in writing and implementing resale policies.
- MAP and Resale Price Policies: Everything You Wanted to Know, but Didn’t Know Who to Ask: Learn the difference between MRP and MAP, when a policy may be a good idea and everything you need to know about pricing strategies.
- Make Your MAP or Resale Price Policy Sales-Centric!: Learn How a Pricing Policy Can Be Used Strategically as a Tool to Increase Sales.
“We’ve seen many cases where manufacturers put these [pricing policies] in place, usually from pressure from resellers, and they don’t enforce their policies. […] What happens?” said Zeleck. “You get a little credibility at the beginning, people say ‘oh that’s great, that’s wonderful’ but find out it’s not enforced and the whole thing falls apart. They’ve wasted time, money, energy and credibility.” New seminars are added to SEMA Virtual Education weekly at www.SEMAShow.com/education. Other recently added seminars include:
- Industry Insiders Dish on the Future of the Specialty-Equipment Industry.
- Future Trends: What’s Next for the Automotive and Specialty-Equipment Markets
- Washington Automotive Update: What to Expect From Congress and the Biden Administration
Users of the SEMA Education website will need to create a personal profile upon their first visit, which will then provide access to all recordings in the library.