Glossary

 

A consolidated invoice received from a communcating vendor contains all of the merchandise shipped to the store via the preferred freight company.  The consolidated invoice will contains the product information about the shipped goods organized by the orginal purchase order submitted to the vendor by the store.

 

iMAP or eMAP. You'll sometimes hear someone refer to an Internet minimum advertised price (iMAP) or electronic minimum advertised price (eMAP). An iMAP is specific to prices advertised online, but an eMAP includes all electronic communication channels—even text messaging.

 

MAP stands for “minimum advertised price,” and a MAP policy is a legal document brands use to define the lowest possible price a product can legally be advertised for. It doesn’t just set the minimum, though. MAP policies also outline penalties for violating the minimum advertised price and the process to follow if a seller is found in violation.

 

The Manufacturer Suggested Retail Price (MSRP) is the price that the manufacturer suggests that the dealer ask for a product.

 

A helpful way to think about the difference is that an MSRP is like an unofficial upper limit for your price, and your MAP is an official lower limit for your price. An MSRP is aimed at the consumer, and a MAP is aimed at the retailer.