### Add a new competitor price component to the library.

### Name

Each price component must have a unique name within the library. Enter a short, high-level description of the competitive offering.

### Unit of Measure

Enter a unit of measure to use when quantifying the price component. You may enter a new unit, or select one which already exists from the type-ahead list.

### Price

Click Convert to Formula to provide a calculation for the competitor price.

### Variables

Click the **Add Variable** link to add new variables to this price component. Previously existing variables may be selected from the type-ahead list. Or finish typing the name of the variable directly. Then click the **Add** button to continue.

Click on an existing variable name to edit it. **Note: If this variable is used elsewhere within the library, the variable name will be updated in all places.**

If the variable name is used in other places within this library, but requires different data in each place, use the **Make Unique** option from the drop-down menu. Notice the variable name will be appended with a number, much like a copy of a document on your computer. You may then edit the name of the variable as described above without affecting the other version.

### Quantify

Each variable may be quantified directly using the text box in its row.

### Save data values as defaults

Uncheck this box to save the price component to the library without data. If checked, the data will be marked as default for variables which don't already have default data in the library. For variables which already have default data in the library, the new data will be added as non-default. You may then edit the data within the library to make it default, if necessary.

### Formula

Define the formula with a mathematical expression using the symbols associated with each variable.

The available mathematical operators include: parentheses, add, subtract, multiply, divide, and exponents.

You may also use constants, including decimals.

For example: ( (a+b) * 0.75 ) - (c/a) + d^3

If the formula is complex or you wish to repeat specific calculations, you may break out any variable into a subformula using the **Convert to Subformula** option in the drop-down menu. Then add variables, quantify, and define the subformula just like the main formula.

Click the function icon at the left to expand or collapse the subformula. And if you decide the subformula is unnecessary, return to the variable options drop-down menu to **Eliminate Subformula** just as it was added. Note this transforms the subformula into a simple value *everywhere* it occurs in this library.

### Labels

If available, check one or more relevant labels to enable users to find this price component more easily when building value models.

### Click **Next** to preview the new price component.

If no conflict exists, click **Finish** to save the new price component. If a conflict does exist, either click **Prev** to edit this price component (particularly, the name); click **Finish** to override the original; or click **Cancel**.