The most important thing about your products is how much you ask for them. If you price your products correctly, you can make sure customers will buy the products but if you make any mistake in this process, it can ruin the future of your company and once the reputation is down the flush, it will be a real challenge bringing them up again. This is why it’s really important that when you develop prices for your products, you spend time and do a little research in the market. The same thing should be done while designing the Product Price List. This will be the document at customers will review and this will help them make up their mind if they want to buy your products or if they find them unattractive or expensive. You can develop a new price list every once in a while i.e. whenever you want to change or review your prices, you change the design of the price list but make sure to stick with a specific pattern so customers and clients don’t find it confusing.
Need and importance of a Product Price List:
So you are running a business and you sell products. You can understand that the first and most important thing about selling products or offering services is that you not only want to cover your expenses and pay business expenditures but you also want to make a little profit too so you can expand your business one day. While deciding on the prices for your products, make sure to keep in mind that your products should generate profit for your business.
Guidelines to design a Product Price List:
- There are basically two types of Product Price Lists including; retail price list and wholesale price list. Retail price list is for general customers who buy in single units where wholesale price list is for those who purchase in bulk quantity. You decide if you just want to make one or both types of price lists.
- Start with putting your company or shop name on the top of the list along with the trademark or logo if you have any. Then put street address and contact number so people can contact you for queries and quotations.
- Regarding the products, you can put them in a single list or make separate categories for alike products. In case you only offer a couple of products, make a list so the product list will appear full but when you have a wide range of products and different varieties in each product, make separate categories so customers can easily browse through them.
- Now talking about the most important part of the price list; prices of each product. Decide on the price for each product and put the figure in front of each item. Make sure to mention if you only sell on retail price or you also offer wholesale price as well.
- Pictures are always good for the price lists because it will appear interesting to the customers. If you have the option and space on the list, include relevant photos of products that you are selling on the price list.