How to compare price list in Microsoft excel in 2010 format? Check out duplication in warehouse inventory for competitor price and various product listing pricing features. Imagine yourself in a place when you want to buy new car or new cell phone however before making a decision you always look that how much cash is available for buying purpose. Buying decisions is therefore made by personal individuals as well as companies.
Comparing specifications as well as comparing price list helps in making effective decisions by an individual. List in excel is therefore different prices available by different suppliers in table form in excel which aid a business in comparing features and prices.
Purpose of Price Comparison List to Business
- Profit margins are affected due to pricing decisions made by you.
- More costly the raw material item is more less the profit you will generate.
- In case of faulty good being produced more loss a business will suffer.
- It will also affect sale volume of your good. Cost comparison chart format in excel will also helping you.
- If you will select a supplier providing expensive raw material you will obviously set higher price of your product to earn profit.
- Customers may like to buy cheaper product.
- It helps in making useful decisions regarding selection of suppliers.
- Discounts can be received by business which means more profit for the business.
Benefit of Comparison List to Customers
- It helps in customer having an idea about standardized price of certain item.
- He can compare the price of same item or product from different suppliers.
- He can make a decision which is financially beneficial for him.
- He can compare the features of products from different brands.
- He prefers money or specifications he can make decision according to that.
Different Pricing Strategies
- Low pricing strategy: it is mostly adopted by company at the time of introducing new product in the market.
- Low price attract consumers towards the product at they may want to try something new with minimization of risk to their money.
- Medium pricing strategy: it is adopted when a product is gaining attention and started liking by the customer.
- It will generate some profit at this stage.
- Higher price strategy: it is carried by a company when product is mostly preferred by all customers in the market.
Format of Microsoft Excel for Pricing List
It is preferred by all types of business due to its great design which looks more professional. A price comparison chart must be in way which can be easily updated and can be modified therefore excel can be easily manage and can be updated easily. Managing stock register in excel worksheet through this one.
A basic template for this purpose consists of one table which will contain the entire products item as well as their price list.
Advantage of Price Comparison Template
It will help in managing and organizing products in a format which is both useful for employees and manager of business as well as for customers who want to have knowledge about products. It is also preferred by most business nowadays as it outlines and shows business products in more well mannered and professional manner.
To advertise as well as making marketing strategies for your products marketing team as well as marketing manager must be aware of products and their prices.
So that they can make strategies, which will attract customers towards their products instead of being charmed by competitors.