How To Prepare Most Competitive Quotations

Any business activity will start with a discussion about the product to be sold

. The first thing obviously will be a discussion on the technical issues of the product to find out whether it is suitable for the requirement of the customer or not. If the product is found to be suitable, the next step will be the discussion about its price and other financial terms and conditions. Before starting any discussion in this regard, you will have to submit a quote mentioning the price, terms of payments etc. If your business demand frequent submission of quotes, it is advisable to prepare quote templates so that your work will be more effective and easier. As we stated earlier, all the products will have a specific price range and the ability to choose the right price for the right customer makes ones business successful.

Certainly, the quote templates will reduce your work load in making quotes every time. However, that is not going to help you ultimately. Here you will have to use your intelligence to choose the right price for the customer. During the earlier discussions, you should try to find out the budget allocated for this particular product by the customer. This will give you an idea about what type of product he or she is looking for. In any product there may be several brands which will have different prices depending on the quality, extra features it has etc. if a customer is needed only the basic things, you will not get the business if you are quoting for a sophisticated product with more features than required by the customer.

Secondly, you should try to get the information about your competitors, who all are participating in race for that particular business. If you are watching the market closely, you certainly will have an idea about the prices quoted by your competitors. This will help you a lot in submitting a competitive quote. In some cases, you have to submit more than one quote for the same business as the discussions and negotiations progress. With the help of

by: Jennie Kakkad

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