Have you ever heard of a MAP policy?
MAP policy doesn't mean the picture of a MAP. hahaha
I sell products on my websites, I have access to thousand's of product in my niche.
Almost every manufacturer has some type of a MAP policy in place.
MAP stands for Minimum Advertise Pricing.
MAP is different depending on the manufacturer,
Some manfacturers have MSRP set as the MAP. Some have it so you can go 10% or 20% under MSRP.
They are pretty serious about their MAP policies. I have in the past, not checked for a MAP policy and found out I was in violation. These were with 3 different manufacturers. How I found out is they send you a certified letter. Yes, this has happened 3 times since 2009. Not intentionally, but it happened. 1st violation, they give you 48 hours to get the price set at MAP.
What I like about MAP is it keeps the playing field even, if I set my prices at MAP, nobody can under sell me.
Say my price is $70.00, MAP would be $140.00, usually at the wholesale level I get half off of MSRP.
So if you're selling products from your website, make sure there isn't MAP policies in place for the product. Don't get the certified letters like I did.
Kenny
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Here is an example of my MAP policy for the website I'm working on right now. You'll notice the second column says MAP price. I can't go below that price for that product, I can however set the price at any level above MAP price.
kenny
Thanks Kenny, I have heard of the acronym MAP but not as you have defined it. In policy development it is Major Areas of Programming, Good to know though about the Minimum Advertise Pricing.
You can sell a product for as much as you want, just can't have it under MAP.
You can sell out of a brick and mortar store any amount you want, it's usually defined in the policy, no radio ads, TV ads, newspaper ads, online , etc. can be advertised below our MAP policy.
kenny
Thank you for sharing this Kenny. I haven't heard of this before. I will check into it though.
If you're selling products, it's worth a look. Usually in the footer section of their website, it will have MAP policy. Read it.
kenny
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This is new information for me Good to know
Thank you,
Lovetta**