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Attribute-Based Pricing
Product attributes describe product characteristics. You can use product attributes for many purposes such as filtering, order decomposition, and fulfillment, and also to determine the correct price for a given product configuration.
Complex products often have several characteristics that affect the price of the product such as the capacity or other product options. Consider a smartwatch with two product attributes, shown in the following example. Consider a commodity product with Unit Rates that vary by Distribution Region, shown in the following example. Without attribute-based pricing, you must create separate product entities for each configuration, so that each product configuration can be priced correctly.
In a large catalog with many products and attributes, this approach can cause your product catalog to grow exponentially, increasing maintenance and administration.
Using attribute-based pricing, you can create a single product entity and a set of attributes, and use a standard calculation matrix to price each possible combination of attributes. This method reduces the number of products in your catalog and gives you an easy way to review and administer your pricing model.
The Pricing Plan cannot be used for Asset repricing.
- Attribute-Based Pricing for Summer '23
The Attribute Based Pricing Summer '23 now supports Business Rules Engine, and pricing matrices with more than 50,000 rows. You can also pass values between price plan steps, set attribute values and prices, and use attribute values in the pricing logic. - Attribute-Based Pricing Using Pricing Plans
You can implement attribute-based pricing using pricing plans, calculation procedures, and standard calculation matrices. Attribute-based pricing enables you to create a single product entity and attributes, and use a matrix to price each combination of attributes. This approach reduces the number of products in your catalog and gives you an easy way to review and administer your pricing model.
