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

SAP Term: live rates planning

• Component: CRM-MKT

• Component Name: Marketing

• Description: A process used to create live rates in the system. Live rates planning determines the budget amounts used to fund promotional activities.

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• Key Concepts: 
  Live rates planning is a feature of the CRM-MKT Marketing Planning component of SAP. It allows users to plan and manage marketing campaigns in real-time, using up-to-date market data. This helps marketers make more informed decisions and optimize their campaigns for maximum efficiency. 
  
  How to use it: 
  Live rates planning can be used to create and manage marketing campaigns in real-time. It allows users to access up-to-date market data, which can be used to inform decisions and optimize campaigns for maximum efficiency. To use live rates planning, users must first set up a campaign in the CRM-MKT Marketing Planning component. Once the campaign is set up, users can access the live rates planning feature and begin creating their marketing plans. 
  
  Tips & Tricks: 
  When using live rates planning, it is important to keep track of changes in the market data. This will help ensure that your marketing plans are always up-to-date and optimized for maximum efficiency. Additionally, it is important to regularly review your plans and adjust them as needed to ensure that they are still relevant and effective. 
  
  Related Information: 
  For more information on live rates planning, please refer to the SAP Help Portal or contact your local SAP representative. Additionally, there are many online resources available that provide tips and tricks for using live rates planning effectively.