It has become a common practice for sellers A seller often has to write a letter to the buyer in which he lets him know about the price of goods he sells and that the buyer is interested in buying. People who are interested in buying products often request the seller to write them a price quotation.
What is a price quotation letter?
It is a written communication between the seller and buyer. The seller writes a letter and lets the buyer know about the price of the products he is selling. This letter is generally useful when the buyer has to purchase products in bulk and he knows that buying items in bulk will enable him to purchase them at wholesale rates and these rates are, by and large, defined by the seller in the price quotation letter.
What a price quotation letter should do?
It is a business requirement that the letter with the pricing details must serve its purpose. This letter is helpful for the seller and buyer as well. When the seller comes up with the description of the pricing of each and every product he sells, he makes the buyer take an educated and informed purchasing decision. This way, he also convinces the buyer to purchase the products from him.
Similarly, the buyer also gets to know about the pricing of certain products, and then he can determine if he can afford to purchase from that seller or not. Sometimes, the purchaser wants to get the products at the most affordable price. So, he often gets quotations from multiple sources and then compares all of them to conclude which one would be better for him. It is important to note that the seller in this letter does not only talk about the price but also specifies some specifications of the products. Likewise, the buyer does not only compare the prices but also the material and other specs before coming to the final decision.
What a letter with price quotation details should cover?
A seller should be careful as to what details he is conveying to the purchaser through this letter. Not writing this letter appropriately can make the customer choose the other seller’s quotation no matter how better the seller has price quotes. Below are some components that every vendor must take into consideration:
Introductory details of the company:
Although the letter is about the pricing of certain products, the vendor should never forget giving some basic details about his company. Sometimes, the customer considers the quotation on the basis of the good reputation of the company. The merchant can tell how reputable his company is in a brief manner.
List of services and products the merchant offers:
The customer either buys services from a company or products. The seller knows what exactly he sells. So, he should come up with a list of products he sells to help the customer in making a purchasing decision.
Expression of thankfulness:
Positive gestures and a courteous attitude matter a lot in the business world. The merchant should thank the customer for choosing him for getting a price quotation.
Prices of each item:
In front of the name of every product or service, the supplier should provide the price. Since the buyer generally gets quotations for products bought in bulk, the supplier should provide the pricing details of the entire package.
Specification of products:
Everyone knows that the price of certain goods depends on the material they have been made from and the features they offer. The supplier should mention the material also. For instance, if the seller quoting the price of ladies’ bags, he should specify the material also as the price of the leather bag will be more than the price of the polyester bag. This way, when the seller gives a higher quotation of the leather bag, it makes sense to the buyer.
The supplier must describe in this letter if the products with a guarantee or not. The products with a guarantee usually have a higher price as compared to those with no guarantee. The duration of the guarantee must also be specified in this letter.
Ref: Price Quotation for [X]
Dear (Name of Recipient),
I am writing this letter to thank you for considering our company (name of company). We held discussions about your project on (tell the date). The project will take (tell time).
I have attached a price quotation which is of (tell amount). If you agree to this, please contact us so that we can begin working. If you have any questions, please feel free to contact us on (give contact number).
I hope to hear from you.
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