What is live rates plan in SAP CRM-MKT - Marketing?

SAP Term: live rates plan

• Component: CRM-MKT

• Component Name: Marketing

• Description: A collection of live rates planning elements. A live rates plan groups live rates planning elements by sales area and planning period.

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• Key Concepts: 
  Live rates plan is a feature of the SAP CRM-MKT Marketing component that allows users to set up and manage pricing plans for their products and services. It enables users to define different pricing plans for different customer segments, and to adjust prices in real-time based on market conditions. 
  
  How to use it: 
  To use the live rates plan feature, users must first define the pricing plans they want to use. This includes setting up the customer segments, defining the pricing rules, and setting up the pricing parameters. Once the plans are set up, users can then adjust prices in real-time based on market conditions. 
  
  Tips & Tricks: 
  When setting up pricing plans, it is important to consider the customer segments you are targeting and the pricing rules you want to apply. It is also important to consider how often you will need to adjust prices in order to stay competitive in the market. 
  
  Related Information: 
  For more information about live rates plan, please refer to the SAP CRM-MKT Marketing documentation. Additionally, there are many online resources available that provide tips and tricks for setting up and managing pricing plans.