WHAT IS A PRICE CHECK AUDIT?
- Price checks or MOP audits are used for two purposes – Measuring pricing for own products to drive pricing discipline, or measuring pricing of competitors to create pricing strategies and schemes and offers.
- Enforcing pricing discipline in the channel is critical for avoiding customer confusion, for discouraging price-hunting shopping behavior among customers, and for maintaining the company’s financial interest in proactively and enthusiastically selling a brand’s product.
TopHawks conducts what are called Price Checks, or SRP (Suggested Retail Price) audits or MOP (Market Operating Price) audits in which a customer attempts to purchase a product at the best possible negotiated price. If the price offered violates a brand’s pricing guidelines, brands can use various incentivization/disincentivization methods to bring partners back in compliance.
A similar process can also be deployed for competitor products with the goal of discovering their pricing strategies and promotional schemes and offers.