Core Statuses and Similar Products Overview for Strategic Pricing

Use core status families to help ensure that a consistent core status is used across related products that might not have the same amount of sales, even though the individual products might otherwise have different core status assignments. When pricing a product on an order, the system first determines if the product is part of a core product family to determine its core status assignment. If the product ispart of a core status family, the system uses the highest core status of the items in the family for the product's strategic price calculation.

For example, you sell red, black, and green wire. You price wire the same, regardless of color, however, you sell more red and black wire than you do green wire. When you complete your core status analysis with Strategic Pricing Associates, you receive a core status assignment of Core A for both red and black, but Non-Core C for green wire based on the amount of sales. You want the green wire to be considered a Core A product, to ensure consistent pricing for your wire, without having to manually edit the core status each time you receive updates from Strategic Pricing Associates. Using a core status family, you can group products like wire that need to maintain contain consistent pricing together.

Use the Strategic Pricing Core Status Groupscontrol maintenance record to define the valid core status families to which you can assign a product.