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In this

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tutorial, we'll
take a look at pricing your products.

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So there are various pricing types
that can be applied

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to each of your products.

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The system currently supports
price per unit.

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We have price
per unit with different tier reductions,

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and we can have price per unit
with sliding cost adjustment

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and we can have quantity dropdown
pricing as well.

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But explore a couple of these now.

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So what I'm going to start off with
is just showing you our basic product.

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So this is with no pricing
specifications defined at all.

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So we've got

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no price regardless of what quantity

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we pick.

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So if I go into my product details,

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so this is just on the product management
list, find the product

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I want to edit.

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And then what I want to do
is go to our product variant.

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So there's a product variance
tab on our product details.

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You can only have

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one product variant per product.

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If you go and what I want to do
is just go to the right hand

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side of the product variance entry
and click on edit.

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So we go into more detail in the product

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variance settings as a whole,
in other videos and other resources.

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But it's a way of specifying
a lot of information, such as pricing,

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stock level control,
various delivery options

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and so on and so forth.

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What we're going to focus on today
is a little bit of pricing information.

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So if I scroll down,
you can see these entries

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here, which are our basic pricing options.

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So to start off with,
you just put some basic pricing in there.

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I'm just going to look at these
three boxes here.

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So we have the price.

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We have the old price

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and we have the product cost.

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So price
is the default price of the product.

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Old price
is the previous price of a product.

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This is more of a

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a display field rather than anything else.

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It will display on your storefront
what the price of the product used to be.

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And then product cost is the cost

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of all different components
which make up a product.

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So this may be the purchase price
of all the components

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or a combined cost of materials
and manufacturing processes.

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My choice is yours for that one.

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So before we move
on, let's take a look at what

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changes
those settings have on our products.

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I'm just going to save it

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and refresh it on our storefront.

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And you can see already
that we've got a few changes here.

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So we've got an old price listed

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so we can see what
the price of the product used to be.

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We have a current price,
and then if I modify the quantity of that

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and add it to our

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basket,
that price is taken into consideration.

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So we can see that the unit price is £2.

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I've got five.

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So obviously my total is ten.

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The next option down is special price.

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So this is an alternate product price
which can be applied

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between set dates and times
if you wish to do so.

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So, for example,
if I wanted to make a temporary discount

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on that particular product,
I could enter the new price

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and then a start and an end date.

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So I'll make it
so that the current time and date

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sits within this special price range.

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And then when I say my product

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and refresh, we should see this price

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changing to reflect
that because we are within

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that the

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specified
start and end times of the special price.

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Would you have some other pricing options
here as well

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that you're welcome to experiment

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with when we're going through them
in this video tutorial?

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They we have the capability
to, for example, disable

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the ability to buy a product.

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So the Bible symbol be disabled,

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disable the ability
to add the product to a wish list.

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We can get our customers
to have to call us

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for a price
rather than displaying a price.

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Or we can even have the customer enter
a price themselves.

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So all of those options are listed around
about

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here.

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Next,
we're going to focus on tier pricing.

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So if I go to the very top of my product
variance editor,

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the next tab along is tier pricing.

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So taking a look at the

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tier pricing
in a little bit more detail here.

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So the options that we have,
there's not too many of them.

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The actual set up in here
is fairly straightforward,

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but the the work that goes on in
the background is a little bit

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more complex
and we'll need a bit more time to explain.

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So the first few

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options are different
forms of tier pricing.

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So you specify your pricing tiers
down at the bottom here,

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which we'll do in a moment.

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And then whatever you select on here
is how it actually utilizes

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those tier prices.

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Another option we have here

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is the ability to show prices
borderline total.

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So if you have that de selected,
when you're looking at the product

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on your storefront,

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just obtain
that it will show you a per unit price.

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So for example, if I put five in there,

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it will still show me the per unit price
if I have show prices or in total

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that will now show me a total order price.

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And this works even without any price
tiers.

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That applies
to your normal pricing structure as well.

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It's just a different way of viewing
the total price on your storefront.

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The reason it's included
as part of the tier pricing

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is that it makes more sense
in the context of these options.

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So what I'm going to do

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is add a few tier pricing records here.

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Now, this is going to be fairly arbitrary.

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So what you need to do is to press
adds new record.

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Then you have a couple of options.

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First off, you do have the ability
to specify different

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pricing based on customer roll
if you wish to do so.

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So if you want to give different roles,

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different levels of discount,
and then you puts in a quantity

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and then you put in a price for order.

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So for example,
our customer purchased this one.

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Maybe I want it to be £5 per order.

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If I want to put this in as individual
unit price

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rather than total order price,
then I can turn this off.

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So now it's just saying price.

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Now lots of new records.

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So if someone buys a hundred,
maybe it's £4 each

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and 1000.

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Maybe it's £3 each.

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And what you'll see is that
when I start to change these settings,

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the numbers here will automatically change
as well to reflect this information.

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So for example, if I put show prices
order line total, it's switch.

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That's a price per order.

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And the values have now updated
based on that quantity.

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Okay.

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So starting off as a normal setting.

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So what I mean by this is we don't have
any of these options selected,

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but if we do have tier pricing applied,

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it is still going to use tier pricing,

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but it's going to be a price per unit
which is directly based

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on the tier bracket
that you are currently sat within.

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So to view this on our storefront,
just to see if that makes more sense.

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So this is what it would look like
with our tiers in place.

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So we've got price break information here
showing the different quantities

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we purchased and the price.

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And then if I start putting it
in a few different quantities

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here,
just to hopefully drive the point home.

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So if we're sat within this bracket,
so between one and 99 units,

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this should remain as
£5 because it's £5 per unit.

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However, as soon as we move

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up to the next bracket,
it's going to be £4 per unit

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and not £4 per unit is going to be applied
to all of the units in the basket,

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not just the ones that sit
within that bracket.

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So just to go into a little supporting
Excel sheet that we have associated

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with this, using the same tiers
that we've just applied.

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I've got a few examples in the left
hand set of columns,

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which is talking about the normal method.

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So for example, if we want 30 units,

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they all sit within a

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so that means that's within the £5
per unit bracket.

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So the price per unit is £5.

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If we go for 500,

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we sit within the second bracket.

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So that means it's the £4
per unit bracket.

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So the price per unit
of the entire basket is £4.

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Same justification for a hundred.

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And then if we want 2000 units,
that clearly sits within TLC,

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which is £3 per unit bracket.

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So every unit in the basket is then £3.

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Okay.

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So next, we'll take a look at

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quantity based pricing.

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This is probably the easiest one
to explain.

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This directly utilizes
what you've specified as your tiers

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does not give people the ability
to specify a quantity

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which is outside of these values.

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So if I just save that
so we can view it on our storefront,

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you'll see that the price break table
disappears, but it's now been replaced

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by this drop down in the quantities box
and all we give the user.

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Two options to do
is to either purchase one 100

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or 1000.

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The next option down

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is to spread
amounts across all pricing tiers.

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So what this is doing
is directly referencing

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how many products from each tier
you are purchasing.

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So first off,
let's look at the product home page.

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So basically it means that

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if you're purchasing 50 units,

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then everything is going to be
within this first bracket here.

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So everything is just £5 per unit

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if you're looking to get 150 units,
then you've got

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some of this pricing bracket as well.

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And some of this pricing bracket.

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So let's try to justify this

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a little bit more in our Excel sheet.

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So we've got this series of columns here
which looks at this similar

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using the same unit quantities
that we used in the previous example.

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So if we want 30 units,

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they all sit within Tier A.

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So that's three units of £5 each.

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That's £150 divided by the 30 units.

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So £5 per unit.

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Nice and easy.

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If we want 500 units,

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then that now sits
within two different tiers.

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So we've got tier A and tier B.

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It means we've got 100 units at £5 each

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and we've got 400 units of £4 each.

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That's the sum total of £2,100.

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And then we divide
that by the amount of units that we want.

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So the per unit price
is going to be £4, 20.

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Now coming down to 2000 units.

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So this is now sitting
within three different tiers.

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So we have 100 units in the £5 bracket.

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We have 900 units in the £4 bracket.

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And we have 1000 units in the £3 bracket.

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So we've put all of those together.

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That's £7,100.

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Divide it by how many units we want.

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And that gives us an overall price
per unit of £3, 55.

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So the last tier pricing
method we're going to look at here

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is interpolate price based on tiers.

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And I formed a couple of graphs which will
hopefully help explain this a little.

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Again, it's in the Excel sheet
that we've created.

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So we've got a plot here to try and

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visualize what's happening
with this interpolation method.

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So the only data that we've
input into the system

00:15:11:23 - 00:15:15:03
for this
is these three same pricing tiers.

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So we've got here a quantity

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one £5 to be quantity £104

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to C quantity £1,003.

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So that's three data points.

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And those three data points
have been plotted on this graph.

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Now, that's not a lot of information.

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That's essentially just getting a chart

00:15:38:24 - 00:15:43:17
of unit quantity versus order price
where the only information you have

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is those three points.

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So what we need to do is to interpolate

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between that data
and then that's what we do here.

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Essentially,
it's a case of between each of the

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tier points, the tier data points.

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We draw a straight line between them.

00:16:02:24 - 00:16:05:06
So we've got a straight line between A
and B

00:16:05:06 - 00:16:07:10
and A, straight line between B and C.

00:16:08:07 - 00:16:12:18
And what this essentially means
is that for any unit quantity

00:16:12:18 - 00:16:16:04
that we select,
so let's say a unit quantity of 600,

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we can get
what the total order price is going to be.

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So this is the interpolation.

00:16:23:12 - 00:16:26:10
This is a very simple representation
graphically of it.

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There is an equation
that gets fed into the background

00:16:29:21 - 00:16:34:06
of the Infigo software
to actually calculate

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what the relation is between
the unit quantity and the order price.

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And there is

00:16:39:26 - 00:16:43:26
a help center topic
which shows that equation

00:16:43:26 - 00:16:53:07
if you are interested.