Why MAP Monitoring Tools Don’t Have to Be Expensive
Sometimes people will pay more for unnecessary add-ons on certain devices, like refrigerators. Over the past decade, we’ve seen some pretty impressive refrigerator models hit the market. Some have TVs, some have WiFi, and built-in apps to access directly from the refrigerator door. If you’re simply looking for a way to preserve your food, why on earth would you pay more for features you don’t need?
Minimum advertised price (MAP) monitoring tools and refrigerators are the same in this respect. When you are looking for software that will monitor your products’ prices and in return preserve your overall brand, do you really want to pay extra for bells and whistles that you don’t actually need?
Here is what price monitoring tools should do:
- List who is selling your products on all available channels
- Show the prices that your products are being sold at
- Indicate which prices are violating your pre-established MAP policy
Those three features can help you accomplish much more than simply identifying MAP violators.
Let’s say, for example, you’re worried about gray market sellers. There’s no need to pay for an additional “feature” that identifies gray market sellers. Keeping track of authorized sellers can help an unfamiliar name stand out on your platform.
Paying more to identify unauthorized sellers is essentially paying for someone to tell you something you already know. Reaching out to the company shouldn’t be a problem. And instead of sending out a cease and desist letter, perhaps you can turn them into an authorized seller and establish an ongoing relationship.
If you’re suspicious of a product being sold by an unauthorized seller, you can usually find an answer by reaching out to the retailer. Gray market sellers that offer products far below MAP and MSRP are potentially selling counterfeit goods. A cease and desist can be necessary in these cases, as products with inferior quality can be even more detrimental to your brand value than low prices.
Price is the easiest way to monitor your brand value in a sea of retailers. Other threats to your brand, such as domain name violations, aren’t necessary to cover with a MAP monitoring tool. A simple Google search can provide you with information on domain names that are eerily similar to your own, and if you feel they are a viable threat, you can start getting legal. The internet is full of retailers like yourself, there’s no need to view every similar domain name as a direct threat to your business.
Your MAP monitoring tool should be easy to use and implement, and it should provide clear, concise, and actionable information. Every tool in your arsenal should have a focused, designated role. Do you really want to pay extra for a tool that does a semi-satisfactory job in several aspects when there’s a product that is incredibly efficient in one respect? Remember, you’re not buying the refrigerator for the high definition LCD television on its door, you’re buying it to keep your food fresh.
Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.
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