Why is this important?

Without a price, a product is not complete, is it? So it is crucial for you to know and understand how to set up prices for your individual products and overall enforce the right pricing strategy that brings maximum results.

With a rule-based pricing strategy, exceptions allow you to control the price range or conditions of your pricing. With static pricing, exceptions will enable you to make it slightly more dynamic by setting different rules for peak days or hours, for example.


Exceptions are rules that modify global price settings for specific time periods, days of the week, or time of the day.

For example, you can use them for setting up rules for a certain event or holiday coming up. If you use a dynamic pricing strategy, we recommend giving the algorithms some guidelines without restricting it too much to have it learn and act on your previous input and historical data. 


Define your rules

As mentioned, rules are different for each price type. Click the links below to head over to learn more about the different pricing types and how to create exceptions for them:



Here you re-read what we have gone over in detail.

 

UPDATE 30.08.2021: Step Size & Charm Pricing

Additional Resources:


Time to practice

Get started with getting comfortable with these settings by playing around with different pricing rules for different products with varying pricing types and see how it affects your pricing settings and revenue to see how various rules or more dynamic pricing may deliver immediate impact. Here as well, make sure to only save those exceptions you really want to take live and actually make use of.

 

Check yourself

  • Do you know how to set the basic pricing for your products?
  • What needs to be set up aside from pricing for your products to be ready to be sold?
  • Do you know what an exception is?
  • Can you recall how to see how your exception affects your pricing settings and revenue?
     
    Not sure if you got them all right? Check your answers.

 

 

 

 

 

 



 

Check yourself answer sheet

 

  • Do you know how to set the basic pricing for your products?
    When creating a new product or editing an existing product, click on Pricing in your products page as shown below:



  • What needs to be set up aside from pricing for your products to be ready to be sold?
    The Validity settings.
    Find all information here.

  • Do you know what an exception is?
    Exceptions are rules that modify global price settings for specific products at certain time periods, days of the week, or times of the day.

  • Can you recall how to see how your exception affects your pricing settings and revenue?

    1. Click Edit for the pricing exception you want to view this information for. 

    2. Scroll to the bottom of the page. 

    Example 1:
    Example 2: