New Price Promotion

New Price promotions will allow a temporary reduction in the price of some items for a certain period of time. This type of promotion can be used to drive the product interest and entice new customers.

With the Price Reduction Promotion type, only one discount type can be set up — the new price for promoted items. For example, if a regular item price is $5.95, a new price for the item can be set at $.5.25.

For more information on cash register limitations, see Compatible Cash Registers Compatible Cash Registers.

Setting Up New Price Promotions

To set up a New Price promotion:

Go to Price Book > Promotions.
At the top of the Promotions form, click Add New.
In the Promotion Name field, enter the name for the new promotion.
In the Receipt CR Description field, specify the promotion description that must be displayed on cash register receipts. The name length must not exceed ten characters including spaces. By default, the promotion name is displayed in this field.
In the Promotion Type list, select New Price.
Result: The promotion default settings are uploaded in the How much? section according to the selected promotion type.
In the How much section:
In the Participation list, select the type of objects for which the promotion must be activated: Stores, Division, Company, and so on.
In the list of objects below that is opened for the selected type of objects, click the power icon on the right of the object for which you want to activate the promotion.
In the What is included? section, select the desired additions to be included in the promotion. Items and promo groups can be added. For more details, see Promotion Setup Form.
In the How much? section, configure the following promotion's basic parameters:
In the New price field, specify the new price for the promoted item. This field is mandatory for the New Price promotion..
In the Promotion unit cost field, specify the item cost for the promotion.

Configure the following promotion's settings:

Reimbursement from Vendor
Timeframe

The Reimbursement from Vendor and Timeframe settings are configured equally for all promotion types. For more information on how to configure them, see Promotion Setup Form.

Scroll down to the Promo Results table and make sure the promotion is set up correctly. The promo results are calculated by the following formulas:

Retail = Promo Price
Price Change = Promo Price - Current Retail + Buydowns

For example, you set up a promotion in the following way:

The initial retail price for the promoted item is $1.19.
The promotion price is $1.00.
The reimbursement amount is $0.19.

In this case, in the Promo Results section, you will see the following values:

Retail: $1.00
Price Change: $1.00 - $1.19 + $0.19 = $0.00

To view the explanation about the promotion results, to the right of the necessary location name, click Explanation.

At the top of the promotion form, click Save to save the changes.