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.


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

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