You can use the product configuration settings in the Admin to set prices for discounted items based on customer groups in your store. This strategic pricing model is called group pricing.
The discounted price of any product can be offered to members of a specific customer group when the shopper is logged in to their account. The customer group price is displayed on the product page along with the regular price so that a shopper can easily compare prices and act accordingly. After they add the product to the cart, the regular price is replaced by the group price based on their customer group.
Pricing for customer groups is a component of tiered pricing and is set in a similar manner. The only difference is that customer group prices have a quantity of 1.
Suitable for wholesale buyers
Incentive for customers to upgrade their customer group to take advantage of discounts
Targeted marketing campaigns
Build trust and credibility by rewarding loyal customers
Open the product in edit mode.
Below the Price field, click Advanced Pricing.
In the Customer Group Price section, click Add.
Configure the group price:
For a multi-site installation, choose the Website where the group price applies.
Choose the Customer Group that is to receive the discount.
Enter a Quantity of
For Price, set the pricing type and amount:
Fixed - Enter the discounted product price.
Discount - Enter the discounted price as a percentage of the product price.
To add another group price, click Add and repeat the previous step.
When complete, click Done and then Save.
The final product price is calculated as the minimum relevant price, using the following formula:
Final Price=Min(Regular(Base) Price, Group(Tier) Price, Special Price, Catalog Price Rule) + Sum(Min Price per each required custom option)
Fixed Price product Customizable Options are not affected by Group Price, Tier Price, Special Price, or Catalog Price rules.