Price components represent each of the multiple products, skus, or parts that make up an offering. The total price of your or your competitor's offering is expressed as the sum total of the relevant price components per the relevant price unit.
Price components can be created by:
- Adding and calculating a price component.
- Selecting an existing one from a library.
Price components can be added and edited in all three modules (value modeling, price setting, and value communication). In the value modeling module, price components can be accessed on the second tab, Units & Prices, or on the sixth tab, Summary.
This article will focus on how to add an existing price component from the Units and Prices tab in the value modeling module only. However this process will be the same elsewhere.
Select Existing Price Component
To select an existing price component from another model or library, select the "Select Existing" button in the price component section for either the competitor's or your offering.
This will open the Select Existing dialog box for either your Offering or the Competitor's offering where you can add an existing price component to your model. To add a price component from this dialog box, click the green add arrow.
The select existing price component dialog box contains:
From (drop-down menu selection)
- Choose a location to search, from among the following options:
- the General LeveragePoint library, a comprehensive list of generic B2B price components
- any company library(ies) to which you have access
- all Value Models to which you have access
- or All of the above
- Note: When selecting from other value models, results will include both offering and competitor price components.
- Narrow the results by selecting from any of the available filters at the left. If the location being searched is a single library, you will see the labels associated with the price components in that library. If the location selected is existing value models, you will see the labels associated with value models. And, if you have selected All, you will see all labels associated with each library, as well as existing value models.
Per Unit of Measure (checkbox)
- Check this box to the right of the search field to restrict results to ones which match the unit of measure in the model. If unchecked, and you select a price component with a different unit of measure, you will get an alert that the units do not match. In this case, the value model unit of measure takes precedence, and the unit associated with the price component will be ignored.
- Before selecting a price component, click the Details link to preview its unit of measure, calculation formula, last modified date, and more.
Import Data (checkbox only appears once price component has been added)
- When selecting a price component from a library, any default data associated with that price component will be imported by default, as indicated by the Import Data box which is checked. Uncheck the box to select the price component without the associated data.
- When selecting a price component from another value model, any data associated with that price component will NOT be imported by default, as indicated by the Import Data box which is unchecked. Check the box to select the price component with the associated data.