Product Prices in VirtueMart. How to Set Up Several Prices for the Same Products?
No matter what type of product you sell, the price you charge your clients has a direct effect on the success of your business. Pricing strategies can be complex: one and the same product can have multiple prices assigned. Moreover, it can be additionally changed by taxes, discounts or other reductions applied.
This tutorial won’t let you let lost in multiple VirtueMart pricing techniques and explain how to set up different prices depending on various factors.
VirtueMart Pricing Variants
First of all, let’s have a look at pricing options VirtueMart 2.x offers. There is no field that simply is named ‘Price’, but there is cost, base and final prices. Sometimes shop owners are not sure what these different options serve for. So here is an explanation that can throw the light on the purpose of VirtueMart product pricing:
Cost Price is the amount for which you get the product from your manufacturer or supplier. The important aspect here is that cost price can be in any currency your provider uses.
Base Price is actually cost price, but the amount is recalculated into the currency you use in your store. If you and your supplier use the same currency, then the value in this field will be the same as for item’s cost.
Final Price is the price for which the client can buy the product at the front-end. Generally, it is Base Price, but adjusted: namely, it can include taxes/discount rules/margins/etc (if you use any).
Prices Based on Certain Parameters
As was already mentioned above, final price can also be adjusted and in some was increased or reduced on the basis of certain rules applied.Taxes&Calculation Rules
It is possible to include to main product price additional expenses, based on a customer's state, region or country. In many cases taxes are charged depending on clients’ location, so be sure to include tax rate to product price. If you need to include additional fee to product cost, you can create special rule according to which price will be changed: e.g. price modification before tax, value to add to tax or price modification after tax is applied, reduced price for products belonging to certain category etc.
You may have discounts through voucher codes but occasionally you might want to put item on sale, for example to make seasonal clear-outs. You can create time-limited price offerings setting promo price valid only for certain period of time. For that you just need to indicate sales value in field ‘Override’ and enter period during which offer is active. It is possible to override pre-tax price or the one already with tax.
You can reward clients of certain shopper group with reduced price. Loyal customers or partners can get the product for lower price than is shown for ordinary shoppers that do not belong to this group. You can even set up as many prices as shopper groups you have got.
You can encourage shoppers to buy more items of the same product, for example, provide wholesale price for customers who add to cart and purchase more than predefined number of the same entity for sale.
Bulk Price Changes
Any price changes performed to products one-by-one are time-consuming and require efforts. In case you are planning discount or promotion, you cannot wait for too long and spent too much of precious time on manual changes.
If you are looking for the means to make massive price changes in VirtueMart, Store Manager application is the one you need. Using it you will be able to implement massive adjustment of cost, base, final prices (by value or percentage), apply discount rules, taxes, set temporary promotions - all of these in a few clicks and the changes are applied to selected goods.
Congratulations, now you know how to work with prices in much more approachable manner with Sore Manager for VirtueMart. Free 2-week version is waiting for you to test it -