List price often called register price, is the complete price that an item is advertised at without taking into account any discounts or special offers. Simply, this is the amount of cash the business is willing to sell its products for.
That is why prices are always on trial. If any mistake is found, it must be instantly changed or the product must be withdrawn from the market.
The pricing list of the product is something different from its price. However, pricing is the art of converting into quantitative terms for the value of a product to customers. The key to a price list is to build value into the product and cost it accordingly.
So, A seller that routinely sells under the list price is referred to as a discounter. Customers that buy in the volume are awarded a discount so that they pay less than the price.
How to Create Product List Price in Excel
Price lists tell your sales manager what to charge for your products or services. So, in this Template, you can create multiple price lists that you can maintain separate price structures for different categories, sales territories, or sales channels.
Price lists categorize the unit, product, and pricing details together, so before creating a price list, make sure the units and products are in the column.
Product Number- Select the product number for which you’re creating this price list.
Name- The name of different product items
Description- Select the description for the product you’re creating this price list for.
Retail Price- Defined for the price list is automatically populated.
Bulk Price List. If you want to offer a discount on the products, select a bulk price list for the item.
The value passed as maturity, in that case, the formula of PRICE will result in the #VALUE! error.
The value passed as a frequency in the formula of the PRICE function is anything other than 4, 2, or 1, then the PRICE function would be the #NUM! error as the result.
If the basis is greater than 4 or the basis is less than 0, then the PRICE function would return the #NUM! error.
The product with maturity value ≤ settlement value, in that case, a #NUM! the PRICE function returns the error.
Features of Price List
Product Pricing covers all marketing features like the item goods or services-mode of payment, methods of distribution, expenses, money and costs used, etc.
The Pricing list may carry with it certain advantages to the customers like guarantee, free delivery, installation and so on.
Pricing lists refer to different prices of a product for different customers and different prices for the same customer.
The level of production that can yield the maximum consideration towards overheads and profits.
Scope for price adjustment is according to changes in cost and demand conditions of the product.
