A business' product pricing strategy is essential to its success. Product pricing is the process a business goes through when it sets the price to sell its products and services; this sample process flow focuses on the product pricing process. This document can be used as a general guide to understand and review the product pricing process. Organizations should continuously update and monitor the processes included in this document to ensure that they accurately reflect business operations.
This product pricing process flow outlines steps such as:
- Preparing the Cost of Sale Quote
- Obtaining approval of the Cost of Sale Quote
- Negotiating between the customer, sales rep and sales manager