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

SAP Term: reference price service

• Component: SRD-CRM

• Component Name: CRM-Customer Relationship Management

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

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• Key Concepts: 
  The Reference Price Service (RPS) is a component of SAP Customer Relationship Management (CRM) that enables customers to compare prices of products and services from different vendors. It provides a comprehensive view of the market, allowing customers to make informed decisions about their purchases. The RPS also allows customers to set up price alerts, so they can be notified when prices change. 
  
  How to use it: 
  The RPS can be used by customers to compare prices of products and services from different vendors. Customers can search for products and services by category, brand, or price range. Once they have found the product or service they are looking for, they can compare the prices of different vendors and select the one that best meets their needs. 
  
  Tips & Tricks: 
  When using the RPS, customers should take into account factors such as delivery time, customer service, and return policies when making their purchase decisions. Additionally, customers should take advantage of the price alert feature to stay informed about changes in pricing. 
  
  Related Information: 
  The Reference Price Service is part of SAP Customer Relationship Management (CRM). Other components of CRM include marketing automation, sales force automation, customer service management, and analytics.