Effective Pricing

The Effective Price

The effective price includes all associated discounts and/or promotions occurring at the time of a purchase. Basically, what we want to know is, how much would this item be if you purchased it right then?

Min, Max, and Mode

NOTE: Record the exact price - don't round!

Min $: Minimum selling price for each inventory category

More on Min Price 

Max $: Maximum selling price for each inventory category 

Mode $: Most common selling price for each inventory category (not a calculation) 

More on Mode Price

EXAMPLES:

You saw the below example of women's tops in a store:

• 5 tops (t-shirts) at $19.99
• 12 tops (t-shirts) at $29.99
• 7 tops (t-shirts) at $49.99

The effective pricing for women's tops (t-shirts) would be:

• Min = $19.99
• Max = $49.99
• Mode = $29.99

The Pricing Section of the survey may look similar to the following: