Magento 2 is the best platform for current eCommerce and online stores with its outstanding feature that allows the merchant to employ marketing campaigns, play with the pricing strategies, and at the same time, consider the benefit too.
Well, pricing strategy aims to maximize profit. However, in any aspect of eCommerce customer-centricity is considered first before anything else. Similarly, when pricing your products, you must take care of your customers.
A discounted price on any product can be extended to members of a specific customer group, provided they shop while logged in to their accounts. The discounted price appears on the product page with the regular price noted below and replaces the regular price in the shopping cart.
Customer group prices are a component of tier pricing and are set up similarly. The only difference is that customer group prices have a quantity of 1.
Segment your visitors, acknowledge their intentions to buy, spend, and then divide them into groups to target them with the correct prices.
What is Magento 2 Customer Group Specific Pricing?
In simple terms, the process to set up discounted produce prices based on the customer group from the admin panel in Magento 2 store is called group pricing. Group pricing in Magento 2 is one of the most popular approaches to drive your sales dramatically. It allows Magento eCommerce merchants to set different prices of products following their quantity as well as depending on the customer group. In this blog post, we will, together, get to know why group pricing is a profitable function of the Magento 2 website and how to set it up on your online store.
Benefits of Customer Group Specific Pricings:
When it comes to Magento 2, marketers take advantages of pricing strategies to attract customers to purchase. By implementing group specific pricing in Magento 2 store, the online business can benefit in terms of marketing efforts and customer monetary. Moreover, group-specific pricing can help enhance the customer’s shopping experience, allowing them to receive discounted prices automatically and quickly at the front end and with the discounted prices based into the system, it makes for smoothy order processing for the admin. Read on to see more benefits of Magento 2 group-specific pricing:
- Entice customers to upgrade their customer group to grab customers
- Targeted marketing campaigns
- Be appropriate with the wholesale customers
- Reward loyal customers, hence, enhance the trust and credibility
How Can Magento 2 Grouped Product Price Be Beneficial?
In Magento 2, marketers employ pricing strategies to lure customers to purchase, and by setting up the group pricing in Magento 2, the business can benefit in terms of customer experience, marketing efforts, customer engagement, and of course monetary.
Grouped product price can be beneficial in Magento 2 as you can set different pricing according to choose and set a price for your product. With the help of grouped product prices, you can take the advantage of benefits of product price be beneficial.
Steps to set up Product Pricing in Magento 2 store
Customers group allows you to set a variety of different parameters per group. Here, we will discuss the steps to set up group pricing in the Magento 2 store.
Well, Magento 2 also allows group-specific pricing per product and this could be used for tier pricing for wholesale customers. This can be set when you are creating your products or you can go back and edit an already existing product.
The first and foremost step is to open the product in edit mode as there are many products and pricing. To set specific pricing, you need to open edit mode to select the specific product and change it according to your choice.
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The next step would be to set the advance pricing to change the current price of the product or put advance pricing. You can do this by clicking on advance pricing which is below the price field. Make sure you click below the price field to click the advance pricing option.
Then, you will get an option for the customer group price section. In this step, you just need to click add because that’s how you can select the prices for your specific products. And that’s how you will make a change in specific product pricing.
Now, configure the group price section, and to do this, you have to select the website where you can apply group prices. For a multi-site installation, choose the website where the group price applies. Choose customer group after that receives the discount. Now, enter quantity 1 for the price, and set the price type and amount.
To add more or another group price, click add and repeat the above steps and when complete click done and then save. This is how you can set the group-specific pricing by following these easy-to-follow and do steps. Make sure you don’t make any mistakes during these steps as it will lead you to the wrong path and waste your time.
Remember: if you set up tier pricing, the price has to be lower than the actual product’s prices as it refers to the one unit. To test that your pricing rule is working for a specific customer group you can create a test customer account, add that customer account to the customer group that you want to test and then log in from your front-end with that account to see the changes in pricing for the customer group.
You should now have an understanding of how to set specific pricing rules for customer groups in Magento 2. Setting up a group-specific product pricing to a customer group in Magento 2 is easy and with the above-mentioned steps and if done right, you will not get any trouble during the process.
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