Seasonal Pricing Customizations (aka Pricing Profiles)

What are Pricing Profiles and how can they help you?

"Pricing Profile" is a feature that we have introduced to solve for specific use-cases for seasonal markets. A "Pricing Profile" is a user-defined set of configuration of Pricing Customizations. You can create this configuration out of the 8 pricing customizations (mentioned below) that PriceLabs provide.

This feature is only recommended for experienced/advanced users, and for Revenue Managers who has a very specific strategy in mind to implement.

Customizations under the Pricing Profiles

1. Last Minute Prices
2. Orphan Day Prices
   
3. Day of Week Pricing
   
4. Occupancy Based Adjustments
   
5. Portfolio Occupancy Based Adjustments
6. Demand Factor Sensitivity
   
7. Far Out Prices
   
8. Seasonality

For eg. - "No Last Minute Discount" and "No Orphan Day Discount" is a valid configuration. Lets call this profile as "profile A"

For every season in seasonal profiles, you can assign it a Pricing Profile. Now lets say the "high season" is defined from July 1 to August 1 every year. Now, I can assign "profile A" to "high season" and this is equivalent to saying that for my high season, please don't add any last minute and orphan day discount. The reason could be because my high season I am likely to get booked, so I don't need to discount my prices to get a booking.

From the example above - you see how you can use certain pricing customizations to apply for certain seasons via Pricing Profiles. Also note that this is generally helpful in very seasonal markets, and thus not available for everyone to use. In majority of the cases, PriceLabs algorithm takes care of your seasonal price fluctuations.

1. In case you are using Pricing Profiles, and a season doesn't have a profile, we'll use the default selections for the pricing customizations.
   
2. The above point also implies that any seasonal customization (as defined in your pricing profile), will supersede any listing level customization.
   Learn more about customization hierarchy here.

Pricing Profiles is a special feature and to get access, please email at support@pricelabs.co for us to enable it for your account.

How to create a Pricing Profile?

From the Customizations Page

1. Navigate to Dynamic Pricing > Customizations
   
2. Go to the Profiles tab and select "Pricing Profile"
   
3. Click "Create Profile"
   
4. Set your preferred customizations
   
5. Once done, click "Save Profile"
   
   

From the Custom Seasonal Profiles

1. From the Review Prices, click "Edit" on the Customizations panel
2. Under All Customizations, click Custom Seasonal Profile, enable the toggle for Custom Seasonal Profile, and click "Edit Profile"
   
3. Select the value type (Percentage/Fixed) then click the more menu option (3 dots) to enable the option for "Add Pricing Profile"
   
4. Under Pricing Profiles, click "Create Profile"
   
5. Set your preferred customizations
   
6. Once done, click "Save Profile" then "Save Changes"
   
   
   

Applying a Pricing Profile to a Seasonal Profile

To apply Pricing Profiles on the listing level:

1. From the Review Prices, click "Edit" on the Customizations panel
2. Under All Customizations, click Custom Seasonal Profile, enable the toggle for Custom Seasonal Profile, and click "Edit Profile"
3. Select the value type (Percentage/Fixed) then click the more menu option (3 dots) to enable the option for "Add Pricing Profile"
4. Under Pricing Profiles, select the corresponding profile
   
5. Set the other details of your seasonal profile
   
6. Once done, click "Save Changes"

To apply Pricing Profiles on the group and account level:

1. Go to your preferred level of customization and click "Edit"
   
2. Navigate to More Customizations > Seasonal & Minimum Prices, then enable the toggle for Custom Seasonal Profile and click "Edit Profile"
   
3. Select the value type (Percentage/Fixed) then click the more menu option (3 dots) to enable the option for "Add Pricing Profile"
4. Under Pricing Profiles, select the corresponding profile
   
5. Set the other details of your seasonal profile
   
6. Once done, click "Save Changes"
   

Archiving a Pricing Profile

While deleting Pricing Profiles is currently not possible, you can declutter your Pricing Profiles by archiving the ones you no longer use. 

1. Navigate to Dynamic Pricing > Customizations
   
2. Go to the Profiles tab and select "Pricing Profile"
   
3. Click the 3 dots beside the "Edit" button of a profile, then click "Archive"
   

To unarchive any archived profiles, follow the steps below:

1. From the Pricing Profiles section, click "Show Archived"
   
2. Click the 3 dots beside the "Edit" button of the archived profile, then click "Unarchive"
   
   

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