Business readiness

Products and Services List

What is a Products and Services List?

A products and services list is a comprehensive list of all the products and services offered by your company, along with details of their specifications and pricing.

A products and services list provides information on all products and services offered by your company along with their:

  • Description: Names, assigned codes, features, composition and function
  • Pricing: Recommended retail price (RRP) of your products and frequency of billing and price of your services
  • Stock Keeping Units (SKU): Total inventory or SKUs available of each product
  • Category: Different categories or segments of products and services available
  • Location: Storage and manufacturing locations of your products

The list also includes the products and services sourced by third parties and is updated on an ongoing basis.

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Why is a Products and Services List important for business today?

A products and services list enables your company to:

  • Track sales and profit margins by each product/ service offerings
  • Design promotional and marketing strategies, based on the features and usage of your products and services
  • Assess the total product SKUs available
  • Offer new products and services, as per market and customer needs
  • Evaluate the environmental impact of your products by analyzing their composition

Why is a Products and Services List important for an event tomorrow?

A products and services list is important for an event tomorrow, as it helps:

  • Determine the range of products and services offered by your company and their price points
  • Assess the competitive advantage of your company’s products and services by analyzing their value proposition
  • Determine your company’s manufacturing and technical capabilities and your reliance on third parties
  • Evaluate the costs incurred by your company in developing and modifying your products or services
  • Determine the customer base (existing and potential) for your company’s offerings

Pros of addressing Products and Services Lists

  • Accurately track your products to evaluate the need to manufacture or source new products
  • Benchmark the portfolio of your products and services against those of your competitors
  • Communicate the features and utility of your business offerings to internal and external stakeholders, including your customers

Cons of not addressing this topic

  • Limits on your company’s ability to market your business offerings based on their type and segments
  • Ambiguity and duplicity of offerings due to low visibility on usage and features of products and services
  • Increased potential for wide variations in prices quoted due to lack of standardisation

Readiness isn’t optional - business leaders need to be ready for change

We've worked with companies like yours for more than a decade, and on over 30,000 deals. From these experiences, we’ve learned that for a business to succeed, it must know what it has and where it’s going. Download our readiness guide for total confidence in decision making when it comes to your company. Realize your value. Own your future.
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