New Product Launch

You will introduce a new product to the market but has almost no idea what the price will be, right?

New Product Launch is for customers who want to protect their inventory or gain an advantage from the demand that a particular SKU has, resulting in profit maximization!

You can now set a target velocity for your SKUs, allowing you to set an initial price that will increase as your target sales velocity is reached. This will protect your inventory and increase your profits. Meanwhile, if the required velocity is achieved, the price of your SKU will gradually increase.

New Product Launch on Eva

To reach this feature, first, hover over the menu on the left side and click Pricing Management. See Figure 1.

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Figure 1 – Pricing Management

Then, go to the Brand Pricing Configuration by clicking on the Pricing Settings button on your preferred SKU’s card. See Figure 2.

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Figure 2 – Pricing Settings

You can see the New Product Launch setting on the popup. See Figure 3.

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Figure 3 – Brand Pricing Configuration

How to Set a New Product Launch?

When you reach your target velocity goal for the set period, the price will increase at the defined rate percent for the number of unit sales you specify. The parameters in this area can be customized to fit your business needs. Once you check the New Product Launch, there will be seven boxes relevant to the setting that will display. Please see Figure 4 below for the boxes’ explanation. 

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Figure 4 – New Product Launch

Sales Price and Determine Sales Target Board

  1. Input Sales Price

Set initial launch price (min or an initial price)

  1. Determine Sales Target

Enter the number of sales you would like to achieve before increasing/decreasing the initial sales price

Finalize Pricing Strategy and Maintain Strategy Board

  1. Finalize Pricing Strategy

Select price increase or decrease, and enter a percentage & your price will be dynamically updated once the sales target is achieved.

  1. Maintain Strategy

After the sales target is achieved, enter the number of units to reapply the pricing strategy that was set in the previous step.

Important Notes

Your initial price must also be above your minimum price in order to function.

Setting an “N” in the template for this feature will disregard all values shown and turn the feature off.

Make sure you are aware of your “Inventory Protection Trigger” as it will override this function to make sure you do not fully run out of stock. Please, check the Inventory Protection Trigger setting article by clicking the button below:

Importantly, New Product Launch can be activated only for available in-stock inventory. If your inventory is back-ordered, settings applied in backorder inventory will override all other settings.

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