What does "Bind product to rule" under the 'Pricing Rules' section means?
This field allows you to decide whether a specific pricing rule will always be applied to a product, regardless of pricing conditions for certain days.
In its default state - 'Do not bind product to this rule', the platform will behave as before, evaluate rule conditions and apply the corresponding pricing rules in order.
When choosing 'Bind product to this rule for', and specifying a certain number of days, the platform will bind products that match the pricing rule's condition to the rule for the specified number of days, and ignore any other rules defined on the Pricing Group.
This means that once a product received a recommendation based on this specific rule, it will become sticky, and will receive recommendations based on this rule only for the number of days you define, regardless it's condition.
This is great for the use of inventory or margin and was made to avoid volatility in the product's price.
Let's take this example:
Our pricing strategy defines rules for profit optimization based on the product's last-sale date.
As long as no units were sold in the past 28 days, the group's rule will be applied to each relevant product and will attempt to optimize profit using 'AI and exploration'.
However, once a product is sold, the group's condition will not apply, and our pricing engine won't be able to recommend a new price.
This is where binding comes into play - When we bind a product to this rule for 2 days, we tell QL's pricing engine to ignore the pricing rule condition for 2 days and keep recommending a new price using the profit optimization rule.
Once a product has been bound to a specific rule, that rule will receive the highest priority in QL's pricing engine evaluation order and will always precede:
Its condition
The option of: ' If limits are exceeded, skip limit adjustments and continue to rule next'
In case that a rule fails, the product will receive its last recommendation and will not continue to the following rule.



Comments
0 comments
Please sign in to leave a comment.