| Term | Definition |
|---|---|
| Bundle Price | An optional price type that is applicable only when the stock keeping unit (SKU) belongs to a bundle product. This cannot be less than the Floor Price of the SKU. |
| Floor Price | An optional price type that the pricing editor/manager can set for a stock keeping unit (SKU) to trigger business logic in the event that promotions have driven the SKU’s transaction price below an acceptable level for the business. For example, if the transaction price of a SKU falls below the floor price set by the Pricing Editor/Manager after multiple promotions are applied, business logic will cancel the transaction and message the consumer appropriately on the Storefront (also known as the Orchestration layer). |
| Mandatory Price Types | The basic mandatory price types for a stock keeping unit (SKU), which include Transaction Price, Bundle Price, Floor Price, and Subscription Price. |
| Optional Price Types | Optional price types available, beyond the mandatory price types, for a stock keeping unit (SKU), which could include Regular Price, List Price, Original Price, MSRP (Manufacturer’s Suggested Retail Price), etc. There is no limit on the number of optional price types that can be added by the pricing editor/manager and any of the optional types can be set as required to ensure data is entered for the price type. |
| Price List | A container/wrapper entity to hold the prices of multiple stock keeping units (SKUs) available for sale to a consumer/buyer. |
| Price Types or Facets | Refers to the mandatory and optional price types available for a stock keeping unit (SKU). |
| Pricing Editor | Commerce role that adds or updates pricing data for stock keeping units (SKUs) to an existing price list and submits the changes to a Pricing Manager for approval. |
| Pricing Manager | The role that typically approves and denies data submitted by Pricing Editors, and manages currency and price types used by a price list. |
| Product | A good/service/idea that has a combination of tangible and intangible attributes and can have multiple variants which are referred to as stock keeping units (SKUs). In Infosys Equinox Commerce, the consumer/buyer evaluates a product (e.g. a men’s dress shoe available in black and brown and in sizes from 10 to 15), but actually purchases a SKU associated with the product (e.g. a black colored version of the dress shoe in size 12) rather than the product itself. |
| Project | A container/wrapper entity to hold changes made to a price list. New and updated pricing must pass through the Project approval workflow process before it is reflected in the price list. |
| Project Notes | Comments entered by Pricing Editor or Pricing Manager to add context to project actions. |
| Project Workflows | Make business processes more efficient by managing and tracking the human tasks involved with a process and then providing a record of that process when it completes. |
| Quantity-Based/Tiered Pricing | Defines prices per unit within a range of quantities for a stock keeping unit (SKU). For example, a pricing manager could approve three (3) tiers of pricing for a particular SKU based on the number of items purchased: If a consumer buys 1 to 100 of the SKU, the Transaction Price per SKU will be $100 If a consumer buys 101 to 200 of the SKU, the Transaction Price per SKU will be $80 If a consumer buys 201 to 300 of the SKU, the Transaction Price per SKU will be $60 The Pricing Manager can add many prices with different tiers as well as many prices with different tiers for different schedules. Note: the Pricing Manager will not be able to add prices with a max qty less than its min qty. |
Scheduled Pricing |
Defines prices for a stock keeping unit (SKU) within a specified time range. For example, a pricing manager could schedule (4) prices for a particular SKU at specified dates/times: If a consumer buys the SKU from Jan 1, 2019 12:00:00 to Dec 31, 2019 12:00:00, the Transaction Price will be $100 If a consumer buys the SKU from Jan 1, 2020 12:00:00 to Jan 31, 2020 12:00:00, the Transaction Price will be $60 If a consumer buys the SKU from Jan 1, 2019 12:00:00 to Aug 31, 2019 12:00:00, the Transaction Price will be $80 If a consumer buys the SKU from Jan 13, 2019 12:00:00 to Jan 31, 2019 12:00:00, the Transaction Price will be $60 Overlapping schedules is allowed. When multiple prices apply for a SKU due to overlapping schedules, Price will be returned based on the schedule bucket that has recently started (e.g. in the above example, the Price for the SKU on Jan 15, 2019 at 12:00:00 would be $60, not $80). Note: Scheduled pricing may include quantity-based/tiered pricing. |
| Stock Keeping Unit (SKU) | A particular variant of a product which is available for purchase by a consumer/buyer. |
| Subscription Price | A discount in percentage that is offered if a consumer/buyer chooses to start a subscription of a particular stock keeping unit (SKU). |
| Transaction Price | The price that a SKU will be sold for (excluding any price promotions that may apply). |
| Variable Price | For a Variable Price SKU, only a minimum and maximum price is defined. In this scenario, a consumer/buyer selects the purchase price for the SKU within a predefined price range set by the pricing editor/manager. For example, a consumer/buyer decides to purchase a gift card in the amount of $93, which falls within the $10 minimum and $500 maximum range defined by the Pricing Editor/Manager. |
Revision History
2019-04-30 | MA – Content uploaded.
