Pricing Models
Product prices fall into one of four categories:
- Standard
- Package
- Volume
- Graduated
Standard Pricing
For each unit of the product a customer purchases, they get the same price.
For example:
- The price of 1 unit is $1.00
- 10 units cost $10.00
Package Pricing
You sell a certain number of units for a specific price. For example, if you decide that a package of 10 units costs $5.00, and the customer purchases 2 packages, they buy 20 units for $10.00.
Volume Pricing
With volume pricing, you can give customers a better price when they purchase more units in bulk.
For example:
- For 1 to 10 units, the price is $10 per unit
- For 1 to 20 units, the price is $9 per unit
- Etc.
Graduated Pricing
Similar to Volume Pricing above except the unit price depends not on the total number of units purchased, but on tier. For example, the first 10 units are sold for $10 per unit, the next 10 units are sold for $9 per unit, etc. So, in this example, if a customer bought 15 units, they would have paid 10 x $10 + 5 x $9.00 = $145.
Properties of the Pricing Model Object
| Name | Type | Description |
|---|---|---|
id | string | Pricing model ID |
name | string | Pricing model name |
isTiered | boolean | If True, this is a tiered pricing model. Volume Pricing and Graduated Pricing are tiered models. (See the descriptions above). |