What is reference price material in SAP SRD-CRM - CRM-Customer Relationship Management?

SAP Term: reference price material

• Component: SRD-CRM

• Component Name: CRM-Customer Relationship Management

• Description: A material's cost that can be used as a reference for pricing other products. Using the reference price material means you only have to maintain one price in the system.

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• Key Concepts: 
  Reference Price Material is a component of SAP Customer Relationship Management (CRM) that allows customers to compare prices of different products and services. It enables customers to make informed decisions about their purchases. The reference price material is stored in the SAP system and can be accessed by customers when they are making a purchase. 
  
  How to use it: 
  Reference Price Material can be used by customers to compare prices of different products and services. Customers can access the reference price material in the SAP system and use it to make informed decisions about their purchases. The reference price material can also be used by sales representatives to provide customers with accurate pricing information. 
  
  Tips & Tricks: 
  When using Reference Price Material, it is important to ensure that the prices are up-to-date and accurate. This will help customers make informed decisions about their purchases. Additionally, it is important to ensure that the reference price material is easily accessible for customers so that they can quickly access the information they need. 
  
  Related Information: 
  Reference Price Material is part of SAP Customer Relationship Management (CRM). Other components of CRM include customer segmentation, customer service, and marketing automation. Additionally, SAP offers a range of other software solutions that can be used in conjunction with Reference Price Material, such as SAP Business Suite and SAP HANA.