How to add a Dynamic price to a Product?
A dynamic price is a useful way to maximise yield of products. It allows businesses to specify a price that is dependant on either a time distance from departure date, a specific remaining capacity, or a mixture of both!
- Edit the product
- Go to the prices tab
- Add a new dynamic price
- Title: This is customer facing so for example a "last min special" that customers can see. If you do not want to notify customers, name it the same as the original price variation. i.e Adult
- Product variation: Select the variation you want the special to apply to. You can create multiple dynamic specials for each price.
- Start date: the day you want this to start applying from (leave blank for always)
- End date: the day you want this to finish applying (leave blank for always)
- Active: Tick this to make special live or leave unticked so that it does not apply. You are not able to delete special prices from the system. This is the way you stop them from being sold.
- Prevent Direct sell: This means system users will not get this special price. Use when you want a specific channel to get the special only
- Allow Agents to purchase: select which agencies have access to this special or not
- Price Change Type: Choose to increase or decrease your price by a percentage (10% cheaper) or a fixed amount ($10 more expensive)
- Change Applies to Seasonal Price: Do you want a date with a seasonal price to receive the same discount. For example if you use seasonal pricing to add a public holiday surcharge, choose no so that it is excluded from receiving the special price.
- How far out from Travel date: Special prices can either always apply or apply within a date range. "Start days before travel" is the furthest date and "up to days before travel" is the latest date. (eg. start days= 7days, up to = 1day will mean this special will apply during the week leading up to departure)
- When Remaining availability: This is only available for stand alone availability products and not for complex products such as packages. you can create a tiered structure with multiple dynamic specials. Highest availability it the top end of your limit and lowest availability is the bottom end. (eg. highest availability is 5 and lowest availability is 1 and the last 5 seats available will be increased by $20)
Route products are slightly different as the prices often belong to a "Price Matrix"
The steps to add the dynamic price are the same as the above but you will find them in a different area
If you use a Global Price matrix you set this up on the variation, and will affect your entire matrix
If you use a price Matrix on the Route level then you will notice a "Dynamic Special Prices" Tab when editing your route product