Product/Service Assessment

Have you done an analysis of your competitors?

Do you use cost-plus pricing? (a method that attempts to ensure that costs are covered while providing a minimum acceptable rate of profit for the entrepreneur. It is calculated by adding a fixed mark-up to average (or unit) costs of production.

Are your products/services better than your competitors’?

Do you manufacture or assembled your products?

Do you introduce new products regularly?

Do you have a reliable supply source for your products/supplies?

Our products and/or services are the best in the industry.

For the quality of our products/services, they are underpriced.

Are your prices derived from the market value of your products/services?

Do you have a quality assurance plan, warranty, or guarantee for your products/services?

Do you maintain inventory?

Do you evaluate your sales by product to improve sales on slower-moving products/services?

Do you manage the product mix and eliminate underperforming products/services?

Do you own the inventory of the products you sell?

Is your inventory unbalanced? (Too much of some products; not enough of others)

Is your lead time to replenish stock adequate?

Select the time period wherein you will be launching a new product/service:

What is the price of your product/service? Use the space below to explain your pricing. If you don’t know your prices yet, put N/A in the field.

What is the price tag of your average sale? If you haven’t had any sales yet, put N/A in the field.

Do your associates know your pricing structure?

Will your products/services go obsolete or out of style in the near future?