Price quote template is a professional format used to prepared your own price quote or quotation at your own terms and understanding. It is the start of transaction and you don’t really wish to miss the business opportunity. Hence providing a perfect quote to seekers might help you to get into transaction. A good format of price quote must have all the necessary information which you should provide. By missing any single line of information can disgrace the interested candidate and your quotation will not consider worthy. If you really not willing to see your quotation in dustbin then you must have a professional format like we are presenting below. A good format helps you and your employees to fill all rows and columns accurately and will make sure nothing you missed. Therefore, you won’t require training for your staff and to invest thousands of dollars on them.

Details of Price Quote

A price quote is actually a final price quoted by sales person or company in respond to inquiry for any or all products or services. It is the last minimum possible price of services or products by which a seller is willing to provide. As far as stock quote is concerned, it is basically most recent price of a commodity or service at this given time. While go through bidding process where all sellers are requested to bid their price, this format is used to participate. There is difference between bidding a price or responding sales inquiry. When you are offered to participate in bidding then you must offer very competitive price while in responding sales inquiry, you can use your brand popularity and goodwill. Therefore the format which you shall use in both cases will have certain impact on decision making. A discount on bulk purchase or rebate on early payment can also mention on price quote depending on nature of transaction. However, you can use it in your format to make your price quotation attractive.

Content of Price Quote

There is huge difference between a price quote and price estimation. A price quote defines accurate and studied price value of any particular commodity or service. While, an estimation is just random calculation of price based on different speculations. The content of price quote make it worthy and crucial for business success. Here, I am going to elaborate your what sort of content you required while preparing you own quotation;

1- Product or Services details: A comprehensive format must have ample space for product details or services specification. It will help buyer to understand what sort of commodity or service he/she can avail. It also make sure that nothing is hidden from buyer regarding quality if quantity.

2- Price: This segment is most worthy segment of any quotation and must fill after research and discussion. Once price is quoted, it cannot change afterwards. It further includes discount or rebate on bulk purchase, if any given.

3- Terms of Payment: It discloses the information about the term and conditions may applied on transaction which a buyer has to accept. It includes price variation on different quantities, time frame for payment, cash payment process, mode of payment, payment terms and credit time details.

4- Cost breakdown: This segment will disclose information about cost specification. It may includes services charges, freight charges, Factory overhead chargers, transportation charges, post delivery inspection charges, insurance charges, extra printing charges and all other elements which are effecting price.

5- Product Delivery: If buyer is looking for quick shipment of products or commodities, then it must clearly mentioned on quotation the expected time of delivery. Normal course of delivery time and fast delivery time including any extra charges, applied.

6- Quote Expiry: Your referred price quote must have an expire date which should clearly mention in format. If the product or services are subject to specific terms then these also mention with expiry. Buyer should know, how long your quote is valid for acceptance.

7- Acceptance Signature: There should space for signature of buyer once he/she is ready to purchase. It must have checkbox above signature, where buyer should have checked before signature.

Price Quote and Business Development

Business expansion requires lot of sales and marketing efforts and it is not easy to do so. A price quote serves here as “tool” which can be used to attains sales as well as marketing goals. By sitting in one corner of this world, you can get deals from other corner of this world and this can happen with price quotation. You can be part of any bidding procedures happening any corner of your sales territory with this price quote. Either customer is willing or not, you can present your company with attractive price quotation which can change his/her mind later on. Sometimes, randomly offering commission or discount can also leads toward big deals and you should never underestimate these tools. A good marketer always use price quotation as a tool to develop relationships which can be very good for business afterwards. it gives you a chance to understand what your buyer is looking at and how your products or services can satisfy them even in future. It develops understanding between you and your buyer whether a transaction is happened or not. It boosts confidence of buyer on services even though a purchase transaction is happened or not.

Price Quote as Marketing Strategy

Marketing efforts are continuous process and yet price quotation is one tool which need to prepare every time whenever required. Perhaps, it is beginning of new relationship either in present scenario or in future prospective. With the comparison of your past quotations with current, you can determine price fluctuation range and time frame. Moreover, with those quotations where you didn’t get buyers at that time, can help you to make future strategies. Making comparison with your quotation and competitor’s quotation can help you understand your grey areas and how you can overcome them.

Quotas can be displayed at various outlets as brand development and nevertheless, for marketing. By preparing charts, banners and flyers, you can promote your quotations around your market. Especially while some events are nearby, you can boost your sales with offering wide range of discounts. Launching different sales promotions at right time can also boost your sales figures. Time frame can also give on those quotations only which will bring back to company by buyer during distribution. Nominating specific outlets at specific areas can also boost demand for price quotation and lucky draw can also be conducted on those areas.

Online mediums are also very effective in producing similar impact on sales volume. By clearly selection of online medium, price quotations can increase brand loyalty. Adding them into various social websites, either by free or thorough paid campaigns, then produce tremendous results. It will increase your subscriptions, willing to yes and top trends on different platforms. This is especially significant for subscribers who wish to make decision based on recent activities or with new discounts. You can convert them into direct customers in best minimum possible short time. Moreover, by updating them with your recent changes either in price or quality, they can sign up for new price quotations. Thus, price quotation is a wonderful tool and have deep impact on your marketing strategies.

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