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Crafting a Winning MAP Policy: A 4-Step Guide to Success

Crafting a Winning MAP Policy A 4 Step Guide to Success 1

As a business owner, maintaining control over your pricing strategy and protecting your profit margins is paramount. Enter the Minimum Advertised Pricing (MAP) policy – your virtual security guard at the entrance of your establishment, ensuring compliance with established rules.

 

So, how do you craft an effective MAP policy? Here are four key steps:

 

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Be as clear as your parents’ reminders about homework: Specify exact advertised prices for resellers and consequences for non-compliance. Regularly review to ensure relevance and effectiveness.

 

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Enforce the rules: Clearly outline penalties for violations in your MAP policy to deter resellers from undercutting prices.

 

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Personalize your policy: Tailor your MAP policy to your business needs, considering your industry, target market, and pricing strategy. Avoid one-size-fits-all approaches.

 

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Seek professional assistance: Consult an attorney if unsure about legal requirements for MAP policies. They can provide specific guidance tailored to your business needs and assist in policy enforcement if necessary.

Still not convinced? Look at Apple Computer and Wilson. Apple used a MAP policy to maintain brand integrity with the iPod, while Wilson protected profit margins and prevented price undercutting. Creating an effective MAP policy is essential for controlling pricing and preserving brand reputation. Ready to start the pricing celebration?

 

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