Product prices

Evance supports a number of features for pricing your products. In this section we'll aim to explore every aspect of price management to help you build your own pricing strategies.  

Price mechanisms

Each product may have one of the following price mechanisms:

• Buy
  Standard one-off product purchase behaviour. This represents the majority of e-commerce. Hence, 'buy' is the default price mechanism when creating a new product. 

• Hire
  Products may be rented/hired for a fixed term period with pricing based on days, weeks, months, or years. 

• Subscription 
  Represents an automated billing cycle with either monthly or annual renewals.
  Subscription functionality is expected summer to late 2022.

Although each product is restricted to a single price mechanism, your store is not and may contain a mix of products. 

Price features

Evance supports the following pricing features:

• Date driven price scheduling
  All prices in Evance have an effective start date. By default this is the price's creation date, but product administrators may schedule future price changes on a product by product basis. Consequently, product prices have a status of 'past', 'current', or 'future'.

• Recommended retail price (RRP)
  RRP is an optional feature and should only be used where products have a manufacturer's recommended retail price higher than your own standard price (see below). 

• Standard price
  Represents your own list price for a product before any special offers or discounts. 

• FREE products 
  It is perfectly acceptable to add a zero value price to a product. Whilst it may not be the best business strategy for all products, everyone loves the occasional freebie. 

• Price on Application (POA) 
  Not all products are straight forward. Some are complicated or so beautifully customisable you couldn't possibly put a price on them. You may also discover that large order quantities warrant a quotation. Price on Application/Request allows you to add a price with no value at all, requiring visitors to enquire rather than buy.

• Special offer prices
  Each product may have special offer pricing - a discounted price on your standard price. Special offers may be added with a start date and an end date, or run perpetually. 

• Quantity based pricing/discounts
  Quantity/volume pricing is a strategy that allows you offer discounts for bulk purchases. The greater the number of units purchased the greater the discount per unit price. 

• Multi-currency pricing
  Evance supports currency conversion or explicitly set prices per currency (requires an international licence). 

• Access role/permission based pricing
  Whether you would like to hide your prices from the public, offer a separate price list for trade partners, or implement customer loyalty discounts, Evance allows you to set any number of permissions based pricing structures for your customers. 

• Regionally targeted pricing
  Regional pricing compliments our multi-currency pricing features allowing you to set various regionally targeted pricing in appropriate currencies. Regions may be formed of one or more countries (requires an international licence).