Inventory Pricing Best Practice: MSRP vs. Sale Price
When it comes to pricing vehicles, it is important you know how to do it so you do not lose money on a sale but also do not price a vehicle too high where it doesn’t sell and in turn costing you money. That is why it is important to know the Inventory Pricing Best Practice: MSRP vs. Sale Price. These simple tips can easily help you price your vehicles and show you the difference between MSRP price and a sale price.
How to Price MSRP vs. Sale Price
MSRP prices are prices set by the manufacture of the vehicle while the sale price is what you decide to sell it at. The MSRP price is usually never used to sell a vehicle as most dealers work around that price and offer a discount or some type of deal to make it look even better. There are a couple strategies you can use to show off your price on your website as well. This way, you can look at the Inventory Pricing Best Practice: MSRP vs. Sale Price and decide for yourself.
Best Practices for Inventory Pricing
Your pricing strategy is one of the most important aspects that you have at your disposal for your dealership. There are two ways you can go about pricing your vehicles online. The first way will show the MSRP price listed on your site with a button underneath that usually says “click here for sale price” or something else along those lines. The idea behind not showing the sale price right away but showing the MSRP price gives the customer a reason to fill out a lead form or to call your dealership for more information.
The other way you can go about doing your pricing strategy is to just show your sale price right on the page. The sale price usually includes some special discounts with the goal of pricing the vehicle lower than the competition that surrounds your dealership. By showing the discounted price, you can draw the customer’s attention and they can call your dealer or might stop in to look at the vehicle.
These two mostly used pricing strategies can work for you but it all comes down to what your overall strategy is. Inventory Pricing Best Practice: MSRP vs. Sale Price is big when it comes to your inventory management. Here at PGI Auto, we can help you figure out what kind of pricing strategy is right for your dealer. We offer different product packages that can be right for you. If you have any questions or would like more information, you can contact us by going to our site as well.
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