Now that you’ve created a MAP policy specifically made for your beloved business, you taken the first step in safeguarding your unique brand online; however, this is just a start. To reap the benefits of the minimum advertised price policy you’ve implemented, you must have a specific plan for monitoring, as well as enforcing it.
Here are some things you should know to ensure that you take full advantage of your business’ MAP policy.
Efficient MAP Policy Monitoring
Ideally, you must keep a close eye on a broad range of online retailers. If you just focus your monitoring on just the bigger and popular retailers, you may be missing smaller ones who can easily undercut the prices of those bigger retailers you are monitoring. Unfortunately, this will eventually lead to cascading prices wherein the popular retailers selling your products become incapable of competing and consequently stop carrying your inventory.
An advanced and fully automated price monitoring software can assist you in keeping track of your products’ online prices regularly so that you will be able to determine retailers that are violating your MAP policy. With this crucial information, you can take immediate action to ensure that no other violations occur.
Effective MAP Policy Enforcement
Closely monitoring online retailers won’t be enough to ensure that your retailers comply with your MAP policy. In the event that you catch violators, you must make the appropriate MAP policy enforcement action right away. Before you implement your MAP policy, you must already have a plan in place for penalizing potential violators.
It is worth mentioning that MAP policy enforcement must be taken very seriously and that you can’t play favorites regardless of the nature of your relationship with some retailers. For instance, warning or penalizing violators, but not another violator, can possibly lead to antitrust litigation. With consistency, you will feel secure knowing that you are doing the best you can to legally and more effectively enforce your MAP policy.