Price Rules Management

# Price Rules Management Price rules let you automatically adjust prices based on various conditions like dates, demand, booking windows, and customer behavior. Use them to maximize revenue while staying competitive. ## What You'll Learn - Create and manage different types of price rules - Set up price modifications (fixed, percentage, additive, subtractive) - Configure rule conditions and priorities - Apply rules to specific units and timeslots - Use cumulative and non-cumulative rules effectively ## Accessing Price Rules Navigate to: **Dashboard → Price Rules** ## Understanding Price Modification Types RecSystems offers 4 ways to modify prices: ### 1. Fixed Price - **What it does**: Sets the exact price, regardless of base price - **Example**: Set all weekend rentals to $299 - **Use when**: You want consistent pricing for specific conditions ### 2. Percentage - **What it does**: Adjusts price by a percentage (positive or negative) - **Example**: 20% off early bird bookings - **Use when**: You want proportional discounts or surcharges ### 3. Additive - **What it does**: Adds a specific dollar amount to the base price - **Example**: Add $50 for holiday weekends - **Use when**: You have fixed surcharges ### 4. Subtractive - **What it does**: Removes a specific dollar amount from the base price - **Example**: Subtract $25 for last-minute bookings - **Use when**: You have fixed discounts ## Types of Price Rules RecSystems supports 7 rule types: 1. **Standard** - Basic rules with custom conditions 2. **Demand-based** - Adjust prices based on availability 3. **Last minute** - Discounts for bookings close to rental date 4. **Early bird** - Discounts for advance bookings 5. **Volume discount** - Lower prices for multiple units 6. **Promo code** - Special pricing with codes 7. **Loyalty program** - Rewards for repeat customers ## Creating a New Price Rule 1. Click **"New Price Rule"** button 2. Fill in the basic information: ### Basic Settings **Rule Name** (Required) - Give your rule a descriptive name - Example: "Weekend Surcharge" or "Early Bird Discount" **Rule Type** - Select from the 7 types listed above - This helps organize and track rule performance **Active Status** - Toggle on/off to enable/disable the rule - Useful for seasonal rules or testing ### Price Modification **Modification Type** - Choose: Fixed, Percentage, Additive, or Subtractive **Modification Amount** - Enter the dollar amount or percentage - For percentage: Enter 20 for 20% increase, -20 for 20% discount **Charge Frequency** - **One time**: Apply once to the entire booking - **Per hour**: Apply for each hour (hourly rentals) - **Per day**: Apply for each day (daily rentals) - **Per week**: Apply weekly for long-term rentals - **Per month**: Apply monthly for extended rentals ### Rule Conditions **Date Range** - Start Date: When the rule becomes active - End Date: When the rule expires - Leave blank for always-active rules **Days of Week** - Select specific days (Monday-Sunday) - Perfect for weekend surcharges or weekday discounts **Time Range** - Start Time: Beginning of time window - End Time: End of time window - Useful for peak hour pricing **Booking Window** - Minimum days before rental - Maximum days before rental - Example: "3-7 days before" for last-minute discounts **Duration Requirements** - Minimum rental duration - Maximum rental duration - Example: "3+ days" for extended rental discounts **Quantity Threshold** - Minimum number of units - Triggers volume discounts ### Application Settings **Units** - Select specific units this rule applies to - Leave blank to apply to all units **Timeslots** - Choose specific rental types (hourly, daily, flexible) - Leave blank for all timeslot types **Priority** - Number from 1-100 (higher = more important) - Determines order when multiple rules apply **Cumulative** - **Yes**: This rule stacks with other rules - **No**: Only the highest priority rule applies ## Managing Price Rules ### Viewing Rules The price rules list shows: - Rule name and type - Active/inactive status - Price modification details - Date range - Priority level ### Editing Rules 1. Click on any rule name 2. Update the settings 3. Click **"Update Price Rule"** ### Copying Rules 1. Find a similar rule 2. Click **"Copy"** button 3. Modify as needed 4. Save as new rule ### Deactivating Rules 1. Click **"Edit"** on the rule 2. Toggle **"Active"** to off 3. Click **"Update Price Rule"** ## Rule Priority and Stacking ### Understanding Priority - Rules are evaluated from highest to lowest priority - Priority range: 1-100 (100 is highest) - Default priority is 1 ### Cumulative vs Non-Cumulative **Non-Cumulative Rules**: - Only the highest priority applicable rule is used - Other rules are ignored - Use for exclusive offers **Cumulative Rules**: - Multiple rules can apply to the same booking - Modifications stack on top of each other - Order matters: Applied by priority ### Example Scenario Base price: $100 - Rule 1 (Priority 10): Add $20 (cumulative) - Rule 2 (Priority 5): 10% discount (cumulative) - Rule 3 (Priority 3): Fixed $85 (non-cumulative) Result with all cumulative: $108 ($100 + $20 = $120, then -10% = $108) Result with Rule 3 non-cumulative: $85 (only Rule 3 applies) ## Best Practices ### 1. Start Simple - Create a few basic rules first - Test thoroughly before adding complexity - Monitor the impact on bookings ### 2. Use Clear Names - "Holiday Weekend Surcharge" - "7-Day Advance Discount" - "Multi-Unit Volume Discount" ### 3. Set Appropriate Priorities - Promo codes: High priority (80-100) - Seasonal adjustments: Medium (40-60) - Standard rules: Low (1-20) ### 4. Consider Customer Experience - Avoid too many stacking rules - Keep total adjustments reasonable - Display savings clearly to customers ### 5. Review Performance - Check which rules trigger most often - Analyze impact on revenue - Adjust or remove underperforming rules ## Common Price Rule Examples ### Weekend Premium - Type: Standard - Modification: Additive +$50 - Days: Friday, Saturday, Sunday - Frequency: Per day ### Early Bird Special - Type: Early bird - Modification: Percentage -15% - Booking window: 14+ days before - Frequency: One time ### Last Minute Deal - Type: Last minute - Modification: Subtractive -$30 - Booking window: 0-2 days before - Frequency: One time ### Holiday Pricing - Type: Standard - Modification: Fixed $399 - Date range: Dec 20 - Jan 5 - Frequency: Per day ### Volume Discount - Type: Volume discount - Modification: Percentage -10% - Quantity threshold: 3+ units - Frequency: One time ## Troubleshooting ### Rule Not Applying - Check if rule is active - Verify date ranges include booking dates - Confirm unit/timeslot assignments - Review priority and cumulative settings ### Unexpected Prices - List all applicable rules for the booking - Check cumulative vs non-cumulative - Verify priority order - Review charge frequency settings ### Promo Codes Not Working - Ensure exact spelling (case-insensitive) - Check rule is active - Verify date/time restrictions - Confirm applicable units ## Related Guides - [Pricing Strategies](./pricing-strategies.md) - Overall pricing approach - [Fleet Configuration](../02-inventory-setup/fleet-configuration.md) - Set base prices - [Booking Workflow](../01-daily-operations/booking-workflow.md) - See rules in action --- *Remember: Price rules are powerful tools. Start with a few simple rules and expand as you learn what works for your business.*