A MAP monitoring software can be a valuable business tool both for manufacturers and resellers. You see, the minimum advertised price is very important for maintaining product value and customer satisfaction, but it is hard to manually check if all suppliers and resellers and sticking to this policy. However, an automated tool, allows manufacturers to check if all their suppliers are sticking to the policy. Such a tool can also be used by suppliers in order to make sure that their competitors are not violating the policy, but also to stay informed about the competition’s pricing strategy.
Main benefits of a MAP policy
Before we go into exploring the benefits of an automated software, lets take a few moments to remind ourselves why the market needs minimum advertised prices. For starters, these policies help manufacturers protect the brand image by avoiding disproportionate prices, which lower product value for the customers. Moreover, these policies prevent price wars, which also lower product value. Last but not least, these policies level the field between different suppliers, so that the supliers’ selling efficiency or operating costs, do not affect the value of a manufacturer’s product. In other words, it maintains a fair competition between, suppliers, which maintains a high product value, which in turn maintains a high brand equity and customer satisfaction.
Main benefits of MAP monitoring tools
- Enforcing the policy – by constantly monitoring your suppliers, you can practically force them to abide by your policy. An automated tool allows you to easily find violations, and depending on your agreement, violations can sometimes lead to a supplier loosing its right to sell your products. Sometimes, just the fact that the suppliers know that you are using such a software, is enough to prevent them from violating the pricing agreement.
- Save time and money – If you were to manually monitor all the suppliers, you would have to assign one or more employees to this specific task. Paying one or more extra salaries for a task that can be easily automated is something that no business should want to do. Moreover, a map monitoring software can track violations in real time, whereas it can take a while for a person to manually find the violations.
- Valuable supplier information – A MAP monitoring tool will automatically find the suppliers that violate your policy. Moreover, it offers an easy solution for contacting suppliers with just a few clicks, so you don’t need to copy paste contact information and e-mail templates from another source. Last but not least, it also keeps a profile of each supplier’s violations, so that you know if someone deserves another chance or if it’s better to end all relationships with suppliers who affect your brand reputation.