What is floor price in SAP CRM-ANA-MKT - Marketing Analytics?

SAP Term: floor price

• Component: CRM-ANA-MKT

• Component Name: Marketing Analytics

• Description: A minimum price set by a publisher for selling an ad space.

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• Key Concepts: 
  Floor price is a pricing strategy used in marketing analytics in SAP CRM. It is the lowest price at which a product or service can be sold. It is used to protect the profitability of a product or service by setting a minimum price that cannot be undercut by competitors. 
  
  How to use it: 
  Floor price can be set in SAP CRM by using the marketing analytics component. This component allows users to set a floor price for each product or service, as well as other pricing strategies such as discounts and promotions. The floor price can be adjusted at any time to ensure that the product or service remains profitable. 
  
  Tips & Tricks: 
  When setting a floor price, it is important to consider the current market conditions and the competitive landscape. It is also important to consider the cost of production and other associated costs when setting a floor price. Additionally, it is important to monitor the performance of the product or service after setting a floor price to ensure that it remains profitable. 
  
  Related Information: 
  For more information on pricing strategies in SAP CRM, please refer to the official SAP documentation on pricing strategies in marketing analytics. Additionally, there are many online resources available that provide tips and tricks for setting effective pricing strategies in SAP CRM.