My Hub -

Standard Pricing Policy

 

MY HUB TECHNOLOGIES LIMITED

  1. Introduction and Purpose

The purpose of this Standard Pricing Policy is to establish consistent, fair, and transparent pricing practices for our subscription services. This policy aims to ensure our pricing decisions align with My Hub's objectives of market penetration and customer retention. This policy applies to all personnel involved in setting and adjusting prices.

 

  1. Subscription Fee

                            

Particulars

Amount

Monthly

1000

Quarterly

2500

Half Yearly

5000

Annually

9000

**Please note that prices are subjected to market research. It may vary due to various factor.**

 

  1. Objectives

The objectives of this pricing policy are to:

 

  1. Achieve market penetration by offering competitive prices.
  2. Retain customers by providing value-driven pricing.
  3. Ensure profitability through strategic pricing.
  4. Enhance customer trust through transparent pricing practices.
  1. Pricing Strategy

Our pricing strategy is primarily value-based. This means our subscription prices are set based on the perceived value of our platform to retail store owners, service providers, brand owners, and transportation providers.

 

  1. Benefits of Subscription

Vendors subscribing to our platform for the period will receive the following benefits:

  1. Access to the Platform: Full access to the My Hub Technologies platform for listing, managing, and selling goods and services.
  2. Vendor Dashboard: Comprehensive dashboard for tracking sales, customer interactions, and performance analytics.
  3. Marketing Support: Inclusion in our platform-wide promotions, newsletters, and other marketing campaigns to enhance visibility.
  4. Customer Support: Access to dedicated vendor support for assistance with technical issues, order management, and general inquiries.
  5. Analytics and Insights: Detailed reports and insights to monitor business performance and optimize sales strategies.
  6. Training and Tutorials: Complimentary resources, including training videos and guides, to help vendors maximize the platform's potential.

 

  1. Terms of Payment

Payment Mode: Payment can be made via online payment methods such as UPI, credit/debit cards, net banking, or other accepted payment methods on the platform.

Grace Notification Period: Vendors will be given a 7-day notice period to make the payment. In the event of non-payment, if the payment is not received by the end of this period, services will be temporarily suspended.

 

  1. Cancellation and Refunds

Cancellation Policy: Vendors can cancel their subscription at any time. The subscription will remain active until the end of the current billing period, after which it will not be renewed.

Refund Policy: The subscription fee is refundable subject to the company’s Terms and Conditions. No refunds will be issued for partial months of use.

 

  1. Price Setting Procedures
    1. Value Analysis:

Conduct regular assessments of the value our platform provides to different customer segments.

Evaluate platform features, benefits, and competitive advantages.

  1. Cost Analysis:

Identify all direct and indirect costs associated with delivering our services.

Ensure that pricing covers costs and contributes to profitability.

  1. Market Research:

Analyse competitor pricing and market conditions regularly.

Gather customer feedback to understand perceived value and willingness to pay.

Use surveys, focus groups, and market studies to inform pricing decisions.

  1. Approval Process:

All proposed prices and adjustments must be reviewed by the Pricing Committee.

Final approval must be obtained from the Chief Financial Officer (CFO).

Document all pricing decisions with supporting data and rationale.

 

  1. Discounts and Promotions

Types of Discounts:

  1. Seasonal Discounts: Offered during specific periods (e.g., holidays, end-of-season).
  2. Loyalty Discounts: Provided to long-term subscribers as part of our loyalty program.
  3. Promotional Offers: Temporary discounts to attract new subscribers or boost engagement.

 

  1. Amendments to the Pricing Policy

MyHubTechnologies reserves the right to amend the pricing policy as required. Vendors will be notified in advance of any changes to subscription fees or terms.

  1. Effective Date

This Standard Pricing Policy is effective as of April 1st 2024 and will remain in effect until revised or replaced.

 

  1. Policy Review

This policy will be reviewed annually to ensure it remains relevant and effective in achieving our pricing objectives.

Feedback from stakeholders will be considered during the review process.

Any updates to the policy will be communicated to all relevant personnel.

 

By subscribing to our platform, vendors agree to adhere to this Standard Pricing Policy and all related platform guidelines. Violations may result in account suspension or termination.