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Process of Creating Pricing Strategies

Pricing strategies are the pricing policies for a business. To create pricing strategies, price administrators must first create the pricing strategy elements, such as the criteria, pricing segments, guideline plans, and price lists, and then use these elements to define the pricing strategy. The pricing strategy on a quote or an order establishes the limits for the prices that the sales representative can enter in that quote or order.

To create pricing strategies, price administrators perform the following tasks:

1. Creating Pricing Criteria
2. Configuring Pricing Criteria
3. Defining Pricing Segments
4. Creating Guideline Plans
5. Defining Pricing Strategies