One of the significant factors that affect the purchasing decision of a customer is the price of the product or service. Research from Indonesian Islamic University found out that a fixed and fair price of a product will positively affect the purchasing decision of a consumer. For this reason, it is imperative to specify how much your business is willing to sell a product or service. You do this by presenting a well-designed price list, which enumerates your business offers and their respective prices.
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What Is a Price List?
A price list is a document reflecting the products or services offered by a company and their corresponding prices. With this material, the customers will have a guide of how much they will be spending if they avail of what the business provides. We often see a sample price list in salons, bars, restaurants, and businesses providing photography services.
Price Lists: The Different Examples You Need to Know About
While the primary goal of a price list is to inform customers of the amount they have to pay for when they avail of a product or service, there is a specific type of this document for a particular business. Some of which are the following:
- Photography Price List – As a photographer, you must set a definite price for the services you offer. This way, your clients wouldn’t try to haggle for a lower price, and you wouldn’t gain enough compensation. That is why you need to have a photography price list. This document should show your potential clients the different options you offer them and the price you charge for each. You can also highlight some samples of your work to interest the customers more.
- Food Price List – Popularly known as the menu, a food price list contains a list of dishes and beverages a restaurant offers for a particular day. Beside each menu item are their corresponding prices. This document would help the diners choose the best dish at a price thatt would fit their budget.
- Salon Price List – Owners usually display a salon price list in a roll-up banner or inside their store. This material covers the details about each service the salon offers, such as haircuts, makeups, hair care, and manicures. Other parlors have a separate makeup price list so that it would be more detailed.
- Cleaning Price List – For individuals and cleaning companies to make sure that they receive enough compensation, it is essential to have a cleaning price list. This document should specify the type of cleaning services offered and how much the clients should pay if they avail of the service. While some businesses charge the customers on an hourly basis, others do it on a per-room rate arrangement.
- Grocery Price List – Most of the time, grocery shoppers don’t just buy one item from a grocery store. In such cases, a grocery list will come in handy since it helps these customers not go beyond how much they should spend. Moreover, it enables them to monitor the goods they are buying and the price for each.
How to Create a Price List
You don’t have to be an expert in graphic design to create a price list. You can refer to service price list templates or wholesale price list templates available online for price list design ideas. However, if you prefer to learn it yourself, here’s how:
1. Set the Dimensions
A bar price list template may differ from a salon price list template in size. Nevertheless, it is up to you what size of the document you prefer. If you have numerous products to showcase, it would be best to have a larger price list so that the content won’t look disorganized. Some of this material come in a rack card size, which is 4 inches x 9 inches, while others have flyer-like sizes.
2. Write an “About Us” Section
Just like on a company website, you can include an About Us section in your price list. But make sure that it is short and simple. The importance of this part of your material is to let your customers know more about your business.
3. Include Photography
Photos have the power to entice customers to avail of the products or services you offer. That is why it would be beneficial if you place visually pleasing images in your price list. Also, doing so will give the audience a clearer picture of the quality of the things your business provides.
4. List Down Your Business Offers
In listing down your products or services, don’t just write their names, you can also include a short description of each. This way, your customers will have a gist of what comes with the offer. Then, make sure to indicate the exact price for each. It would be best to create a price chart.
5. Call to Action
Lastly, encourage the customers to avail of your business offers. And one of the most effective ways to do so is to write a call to action statement in your price list. You don’t just stop at the price-listing stage; you have to invite people to purchase what your company has to provide.
How do you calculate the price?
Remember that you have to consider various factors when you price a product. You don’t just set the price without any basis, right? To price an item, make sure to calculate the costs incurred to produce the product. It includes materials, labor, and overhead expenses. After calculating the total cost, you will then add a markup percentage for the final price.
What is the importance of pricing?
For a good or service to appeal to the market, you have to bear in mind the 4Ps of marketing: product, place, promotion, and price. Focusing on each factor is the key to generate more revenue for your business. That is why you also have to offer a reasonable price to your customers, aside from promoting the product. Fixed and fair pricing will help boost your sales.
What is the difference between a price list and a quotation?
A price list is merely a list of the prices of the products or services the business offers. This document is available for everyone to see. On the other hand, enterprises write quotations for a customer who requests a list of prices of particular products.
As you scan through racks of shoes or piles of books inside a store, each item has a price tag attached to it. It is one way for business owners to let the customers know how much the product costs so they can decide whether or not they will purchase it. Another way of doing so is through a price list. Now that you know the basics of this document, it is already time for you to create one for your business!
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