products and price books in salesforce

Products & Price Books

Presenter name: Zevik HeinochTitle: Products & Price BooksDate: 18.1.17

What Are Products?

• Products are the items and services that you sell to customers.• Each product can exist in multiple price books with different prices.• If you’re an admin or sales operations manager, you’ll create products

in Salesforce to track the products and services that your company sells.• After you create a product, your sales reps can add it to their quotes,

opportunities, and orders.• You have the ability in Salesforce to add multiple Products to your

Opportunities, as well as produce a Quote for those Products.

What Are Price Books?

• Price Books allow you to set prices for the products you’ve created.• You can use a single Price Book or several of them. • Price Books can be divided by:• Region• Product Categories• Separated company entities• Verticals• Revenue streams

• Product schedules are used for creating default revenue and quantity schedules for products that are delivered or paid for over a period of time.

(For example; a newspaper or a cellular subscription)• In addition, administrators can enable schedule settings that allow

users to create schedules for individual products on opportunities.

What Are Product Schedules?

• Use the Product Family picklist to categorize your products and separate them into groups.• If your organization has customizable forecasting, your users can have

a different quota for Product Families.

What Are Product Families?

What is the Standard Price Book?

• The Standard Price Book is the full list of all the products and services your company sells. It lists each Product at its ‘standard price’.• The standard price is the baseline price your company charges for

each unit of this product or service.• Whenever you create a new Product, it’s added to the Standard Price

Book at its standard price.• Some companies rarely need to use the Standard Price Book.

• Quotes are a great out-of-the-box feature by Salesforce which allow sales reps to create PDF quote documents, giving detail of the Products being sold. Quotes can be sent directly from Salesforce, and are stored for future reference.• You can also store multiple Quotes against an Opportunity to track

different product or pricing versions being offered to the customer. Once one Quote has been accepted by the customer, Salesforce’s Quote Sync function allows you to sync the Quote back to the Opportunity to ensure that it is up-to-date with the latest product and pricing version.

What Are Quotes?

• Every company that uses opportunities to track sales.

Who Can Use Products and Price Books?

• Customer Insight: You can use Salesforce to report on your most popular Products. Gaining insight into which customers are purchasing which Products means that you can easily target them for relevant renewals or repurchasing, as well as targeted marketing• Sales Rep Insight: You can spot trends quickly of which salespeople

are selling which types of products and for how much. If you have insight into which salespeople are the best at selling which Product, you can make sure your sales reps are assigned to the most suitable prospects.

Why Should I Set Up Products and Price Books?

• Centralization: If you are already using the Sales Cloud for Opportunities then it makes sense for your sales teams to enter everything in once place. Going in and out of different systems to get product and pricing information will deter your sales reps from even entering the information.• Quoting: You can also store multiple Quotes against an Opportunity to

track different product or pricing versions being offered to the customer. Once one Quote has been accepted by the customer, Salesforce’s Quote Sync function allows you to sync the Quote back to the Opportunity to ensure that it is up-to-date with the latest product and pricing version.

Why Should I Set Up Products and Price Books?

ERD

Look & FeelChoose a price book

Look & FeelAdd a product

Look & FeelSelect a product

Look & FeelSelect quantity and sales price

Look & Feel

Useful Links• Product ERD model• Product, Price Book, Price Book Entry, and Product Schedule Fields• Products Concepts• Enable Product Schedules• Considerations for Using Product Schedules

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