A business reaches the heights of success when it becomes a trustworthy brand, once that customers relate with and with whom they want to associate. There are many factors that you need to consider in order to achieve that. Today we are going to talk about MAP policies and MAP monitoring, 2 concepts that go hand in hand and which are essential for your brand’s success.
Why you need to enforce a map policy
Enforcing a MAP policy is a way in which you highlight the value of your products or services. For those of you who are unfamiliar with the term, MAP stands for minimum advertised price. In other words, as a manufacturer, you can compel your resellers to stick to a minimum price for your products. The reason for this is firstly to make sure that customers will see the same value for your products worldwide, which increases their trust in your brand. Moreover, it allows you to make sure that resellers make enough money, in order to afford to also invest in customer satisfaction. Moreover, it helps you build good relationships with your resellers, which will appreciate that you are enforcing a minimum advertised price, thus encouraging a fair competition among them.
Is MAP monitoring really worth the effort?
Enacting a MAP policy is the first step towards maintaining product value and brand equity. When you enact such a policy, you generally make an agreement with your resellers. However, you have no guarantee that your resellers will actually stick to this agreement, which is where MAP monitoring comes in handy. Simply put, this is the process of checking out reseller prices and making sure that they stick to your policy.
Manual or automated MAP monitoring?
Manual monitoring may be possible for smaller businesses, who only work with a handful of resellers. However, small businesses rarely enact map policies. It is usually big businesses with dozens or hundreds of resellers that take the trouble to enact a minimum advertised price policy. For these businesses, the manual monitoring process can be very time consuming, and it usually means hiring someone to take care only of this specific process, which is costly and unproductive. On the other hand, automated monitoring software, allows you to automatically find violations, instantly contact violators and automatically keep track of their violations. It is the easiest way to prevent resellers from breaching your policy, thus maintaining product value, brand equity and customer satisfaction.
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