How to Configure Advanced Pricing in Magento 2

Magento 2 offers Advanced Pricing settings which allow you to give your customers special pricing based on sales, customer groups or quantity. Advanced Pricing is one of the many options that you are able to set up on the products settings page in the admin. We will discuss how to create Advanced Pricing in Magento 2.

Types of Advanced Pricing in Magento 2 include the following:

• Grouped Pricing – Special pricing for specific customer groups
• Special Pricing – Offer a discounted price
• Tiered Pricing – A quantity discount
• MAP – Minimum Advertised Price
• MSRP – Retail price as suggested by the manufacturer

Advanced Pricing in Magento 2

How to Set Up Grouped Pricing

Grouped Pricing is a type of advanced pricing in Magento 2. This is a way to apply a discount to customers in particular customer group, as long as they are signed into their user account.

The discounted price will display on the product page with the regular price displayed under. The grouped price will replace the regular price on the shopping cart.

1. Click on Products in the Admin Panel. Then, click on Catalog. 
2. Open the product by clicking Edit. 
3. Click Advanced Pricing under the Price field. 
4. In the Tier Price section, choose Add to add a new tier price and complete the following steps:
   • Choose a website, if your store contains more than one, that you want the grouped price to appear on.
   • Select the Customer Group that will receive the discount.
   • Enter the Quantity of 1.
   • Enter the discounted Price.
   • Click Done.
   • Save once complete. 

How to Set Up Special Pricing

Special Pricing is a discounted price off of the retail price. It is most common for an item on sale. This price configuration allows for certain date ranges so that the admin does not need to manually update each product when the sale is over.

1. Click on Products in the Admin Panel. Then, click on Catalog. 
2. Open the product by clicking Edit. 
3. Click Advanced Pricing under the Price field. 
4. Update the price for Special Price.
5. If you would like the Special Price to only run from specific dates, include Special Price From Date and Special Price To Date.
6. Click Done.
7. Once complete, click Save. 

How to Set Up Tier Pricing

Tier Pricing allows you to provide quantity discounts if the customer buys a product in bulk. Once this has been configured, you will notice the tiered price displayed on the product page.

For instance, Buy 5 for $20 each and save 20%. On the catalog page, you will notice the words “As Low As” followed by the lowest tier price.

1. Click on Products in the Admin Panel. Then, click on Catalog.
2. Open the product by clicking Edit. 
3. Click Advanced Pricing under the Price field. 
4. In the Tier Pricing section, click on Add to add a new tier price.
   • If your store has multiple websites, choose the website you want to apply the tier pricing to.
   • Choose a Customer Group that you want to apply the tier pricing to.
     • To apply the same tier to more than one Customer Group, create a new tier for each group and use the same Quantity and Price information.
   • Enter the Quantity that must be ordered to receive the tier price.
   • Enter the Price the customer will pay when they buy the specific amount of products.
5. Once complete, click Done and Save the product. 

How to Set Up Minimum Advertised Price (MAP)

The MAP is the minimum amount that re-sellers agree not to advertise below. You are not allowed to issue a product with the lower price than the minimum price the manufacturer offers and display it on the product or category pages.

There are three options for hiding the price with MAP. The first is by hiding the price upon gesture, which means your customer will have to choose “Click for Price” to see the lower price. The second option is to hide the price and your customer will need to add the product to their cart to view the lower price. The final option is to hide the price until they go through the order. The price will display right before order confirmation.

1. Click on Stores in the Admin Panel. Then, click Configuration. 
2. Select Sales.
3. Choose the Minimum Advertised Price section.
4. Select Yes in the Enable MAP field.

The application of MAP can be to all of your products, or to only specific products.

Applying MAP to ALL of your products:

1. While still in the Configuration settings, if you would like to enable MAP for all products, choose Gesture. Then click In Cart or Before Order Confirmation in the Display Actual Price field.
2. Enter the message you would like to appear in the required box in the Default Popup Text Message area.
3. Enter an explanation about the phrase “What’s this?” in the Default “What’s this” text Message field.
4. Save the Configuration once complete. 

How to Set Up Setting up MAP for one product/Manufacturer’s Suggested Retail Price (MSRP)

The MSRP is the price the manufacturer recommends that the product be sold for in retail stores or online. It is not necessarily the price the retailers will use when they price the products, as products can be sold for lower prices.

While some stores always sell at or just below MSRP, others do so only when the product is on sale or has been moved to clearance. The MSRP is for use in conjunction with MAP.

1. In the Admin Panel, select Product. Then, choose Catalog. 
2. Open the product by clicking Edit. 
3. Click Advanced Pricing under the Price field. 
4. In the Manufacturer’s Suggested Retail Price, enter the MSRP for the product.
5. Select Display Actual Price by CMS Block. Then, perform the following steps:
   • Use Configuration – Use the MAP settings
   • On Gesture – Allow showing the actual price after choosing the Click for price or What’s this? link.
   • In Cart – Show the actual price in the shopping cart.
   • Before Order Confirmation – Show the actual price after finishing the checkout process and before confirming the order.
   • Click Save to complete. 

 

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