Depending on the regional market you operate in, it may be customary to utilize price levels. A price level is a numerical level or tier that is associated with a unique price range for inventory units.
Overview
Note: this feature must be enabled for your project by the Spark team before it can be used and certain set up information is required before the feature can be implemented. Contact your Customer Success Manager or support@spark.re if you are interested in enabling this feature.
All inventory list prices between the start value of one price level and the start value of the next are included in that price level.
During price level set up, the Spark team will require a spreadsheet listing each of your inventory units by row with a column containing the price level start value for each unit. It is not required that each unit have the same number of price levels, or that the start price for each level be the same. See below for an example spreadsheet:
|
Unit |
Level 1 Start Price |
Level 2 Start Price |
Level 3 Start Price |
Level 4 Start Price |
Level 5 Start Price |
|
101 |
$500,000 |
$507,000 |
$512,000 |
$521,000 |
$535,000 |
|
102 |
$507,000 |
$514,000 |
$536,000 |
||
|
103 |
$700,000 |
$710,000 |
$715,000 |
$725,000 |
Since price levels are typically sensitive information, note that only users with administrator permissions will be able to view and update Price Levels via the unit page or or inventory list mass action.
Updating the Price Level
Increasing or decreasing the price level will update the inventory list price to the start value of that price level.
On an individual unit:
Click on the unit to view its detail page, then click the micromenu toward the top right and click Edit. On the unit edit page, enter the new price level in the appropriate field and click Update to save your changes.
By mass action:
Starting from the inventory list (Menu > Inventory > List), use the filters and checkboxes to select the inventory unit(s) you wish to update, then click the Update List Price mass action button.
Choose one of the three price level update options:
- Set price level - set the selected inventory units to a specific price level
- Increase price level - increase the selected inventory units by a defined number of price levels
- Decrease price level - decrease the selected inventory units by a defined number of price levels
If you attempt the mass action “Increase price level” by a number of levels that extends past the maximum imported Price Level, the unit’s Price Level and List Price will default to the start value of the current maximum level of that unit.
Using the units in the example above, unit 101 has 5 Price Levels, 102 has 3 Price Levels, and 103 has 4 Price levels. If all are currently on Price Level 1, and you mass update to increase by 4 price levels, the mass action will set the price levels and unit list prices as follows:
- Unit 101 set to Price Level 5, Unit List Price updated to $535,000
- Unit 102 set to Price Level 3, Unit List Price updated to $536,000
- Unit 103 set to Price Level 4, Unit List Price updated to $725,000
The reverse is also true; if you attempt the mass action “Decrease price level” by a number of levels that extends past Level 1, the unit’s price level and list price will default to the start value of Level 1 for that unit.
Continuing the example above and starting with Price Levels 5, 3, and 4, if you were to mass update to decrease by 3 price levels, the mass action will set the price levels and unit list prices as follows:
- Unit 101 set to Price Level 2, Unit List Price updated to $507,000
- Unit 102 set to Price Level 1, Unit List Price updated to $507,000
- Unit 103 set to Price Level 1, Unit List Price updated to $700,000
Mass Action Errors
An error will be presented if you use the mass action in the following scenarios:
- a Unit does not hot have any imported Price Levels
- a Unit does not have a next Price Level imported on it
- the set List Price for a unit is below the start value of the first Price Level on that unit