We will start with the MAP to better understand what MAP monitoring is. Initially, we will say that it is a minimum advertised price abbreviation. That is to say, the lowest selling price of a particular product is advertising. Let’s show it by a simple example – the MAP is set to $47 by a manufacturer. So the seller can sell the same shirt in the same quantity or more, not on less. Brand manufacturers use MAP to sell their products as standard ads, which isn’t always the case because agreements often don’t work as planned.
Looking at the figures today, we see that MAP monitoring is unavoidable. Every day, 20 percent of Site products report the loss of only $2.6 billion in the US! It is also important to mention that 80% of online sellers are not permitted. MAP monitoring is a logical step forward to prevent loss of the nation but also you, as the manufacturer.
Now we’re mastering the basics; we’re moving on to the following – what is MAP monitoring? You probably know this term if you’re a retailer. Although we have already mentioned the need for MAP agreements to determine a product’s price, this very often is not the case. It happens that retailers sometimes fall short of this price, only to survive in the market, under the pressure of other competitive e-shops because competition is increasing every day.
Others are inherently resourceful, so they use the “leak” in the sales chain, get goods for less money, and thus lower sales prices, ensuring their market survival. In both cases, the manufacturer is at a loss. This is one of the main reasons why buyers often blame producers for significant variations in prices. The monitoring of the MAP is then implemented to protect producers’ rights. Manufacturers will undoubtedly take this step to maintain their position on the market.
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How does it work?
MAP monitoring functions on an elementary principle, including serial numbers, video, text, and other contents of a product, in particular, to monitor your product on the market to verify whether a seller violates the agreement. This work is done with systematized software for you.
What is achieved by MAP monitoring?
This is a practical way of protecting your brand from resellers who do not process it under MAP. And read a couple more reasons why MAP monitoring should be of interest to every retailer.
1. The efficiency of Retail Monitoring
It would be best to have price tracking software to build an exceptional tracking process, as tracking each is very complicated in person. You will be confident that the price contract was observed and that because of the lack of that information, you will not risk your company’s future. Thus you monitor all prices on the reseller’s market for your products and are notified if they infringe the MAP.
2. MAP monitoring is the same for everyone
The additional important point is that if the MAP is violated, the manufacturer can withdraw its brand.
3. Price war prevention
Preventing a price war is very important and for many reasons. Firstly, it affects the brand’s future sales and value. Ultimately, buyers move to the lowest offeror, leading to a reduction in loyalty. For many other reasons, price decreases harm the manufacturer, and one of those reasons is the doubt that the price is significantly lower.
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4. Tracking efficiency
Software for map monitoring helps you to track resellers that violate the agreement quickly. See the prominent price of a product and underneath it a registration that reads – check the best price. That’s just another issue in a series of vendor malfunctions, but it won’t miss MAP monitoring.
5. Preserve the reputation of the brand
In this way, you protect your brand directly and ensure that sellers follow the given guidelines. The data and reports are also supported in market research by collecting emails. This helps mechanize your company’s MAP monitoring.
Spending on this software should indeed be seen as a profitable investment, with many of the above advantages when placing a product on the market. Thanks to this software, you are sure your brand will not be abused so that retailers are satisfied since they receive the product at the lowest price possible without violating any laws, as we have said. So for both sides, it’s a win-win situation!