Product Pricing Calculator Excel Template

If you’re looking for an easy way to calculate the sale price of a product, then the Product Pricing Calculator Excel Template from Someka is just what you need.

So, with this tool, you can quickly and accurately estimate the costs associated with producing products and services. The template provides easy-to-use fields for inputting data about services. Allowing us to quickly come up with accurate price estimates.

The Product Pricing Calculator is a dynamic tool designed for businesses, assisting in formulating effective pricing strategies that enhance brand positioning and revenue generation.

It’s an indispensable asset for businesses seeking a reliable pricing model that considers every aspect from brand differentiation to channel segmentation, aiding in the meticulous planning and execution of pricing strategies.

What is Cost Estimate Excel Template?

To clarify, the Cost Estimate Excel Template is an essential component of project management. Also, it involves forecasting the financial and other resources that are required to complete a project.

Moreover, this means that it involves taking into account each element needed for the project, from materials to labor. Through this, it calculates the total amount that determines the budget of a project.

For this purpose, some companies make use of the Product Pricing Calculator Excel Template to accurately calculate cost estimates. This template helps to fairly estimate costs and optimize the budget accordingly.

What are the benefits of using the Product Pricing Template?

• Product Pricing Calculator Excel Template helps businesses accurately calculate sales prices and profit margins.
• This template is very user-friendly and can be used to price multiple products at the same time.
• By taking into account customer demands and competitors’ pricing, business owners can set the right prices and increase their chances of success.
• Maintain the financial health of businesses and increase profitability.
• Ensure that businesses remain competitive in the market.

Main sections of Product Pricing Calculator Excel Template:

Above all, this template consists of 5 different sheets. Let’s check each of them.

1. Menu of Price Calculator:

Firstly, this menu page is populated with navigation buttons and settings. Then, it is necessary to input units, sales platforms, and suppliers.

Next, when it comes to commission types, there are two categories to consider – Fixed and Percent (%).

Fixed Commission is where the platform has a fixed fee per product and Percent (%). In which the platform has a certain percentage commission based on the selling price of the product.

The Raw Materials and Calculation pages are to use the units inputted and selling platforms available in the Calculator page of this Product Pricing Excel Template.

Through the navigation buttons and arrows, you can see the overall flow of the template. Primarily, you must enter the raw materials that will be used for products on the Raw Materials page and use the Calculator page for complete calculations of the products.

In addition, the Database page will display saved products where you need to enter competitor prices. Finally, the dashboard page is the area for product analysis and comparison with the competitors.

2. Raw Materials Spreadsheet:

Secondly, on this page of the Product Pricing Calculator Excel Template, you have to submit all the raw materials. That will be utilized for their products.

Not only for a single product but rather for all products, these raw materials must be registered. Subsequently, the Material Costs section will include these raw materials when creating products.

3. Calculator Page of Excel Template:

This comprehensive worksheet integrates crucial elements like cost of production, manufacturing expenses, taxes, and freight charges into its pricing formula, ensuring a precise costing model for your products.

In the calculator sheet, you will fill in the name and SKU number of the product you want to price, along with the quantity and type of shipping fee. Furthermore, it is possible to select the platform you are selling on, if applicable.

Subsequently, you need to enter the basic costs that make up the product in order to determine the “Final Sales Price”.

3.1. Material and Labor Costs

Buttons provide a way to access these areas: material costs and labor costs. For material costs, you need to choose the materials listed in the Raw Materials sheet, specify the amount, and the unit, unit cost, and total cost will appear instantly. Then, as for labor costs, you must enter the name, number, unit, and unit price, with the total cost automatically computed.

3.2. Shipping Costs

Depending on the Shipping Fee Type, two separate fields will be displayed. If “Fixed” is selected, a consistent shipping fee will apply for each item. Alternatively, if “Dynamic” is chosen, the fee will depend on the number of products ordered.

When calculating the retail product price, the amount specified in the first line will be taken regardless of whether it is “Dynamic” or “Fixed”. If the amount varies when “Dynamic” is selected, then the COGS amounts of wholesale and retail sales will also differ.

3.3. Fixed and Other Costs of Someka Product Price Calculator Excel Template

Additionally, you must enter the details of fixed costs, including name, number, unit, and unit price.

Furthermore, the total cost is automatically calculated after all the information is entered. By pressing the “Price Calculator Button”, you will gain access to the area for making the calculations.

Consequently, COGS is automatically generated. In order to calculate the Final Sales Price of the product, you have to choose a “Calculation Type” beside the Calculator.

Then, from the “Select Product” field, you are able to pick the products from the database and click the “Call Product from Database” button to view the details of that product on the Price Calculator.

Subsequently, you can make adjustments to any part of these calculations. And subsequently, save your updated product by pressing the “Save Product” button. Finally, if desired, the product can be deleted from the Database by clicking the “Delete Product” button.

4. Product Database and Competitor Analyses Sheet:

Afterward, the “Calculator Sheet” contains the total cost of sale, and any modifications made to the sheet will be updated. Also, the “Hide/Show Details” button gives insight into the Cost of Goods Sold (COGS) for customers. Markup, Discount, Tax, and Platform Listing Fee all add up to give the total cost of the product, visible in the far-right column.

To make sure you have a full understanding of your competition, it is possible to enter prices for similar products into the 6 Competitor fields. For any data missing, you can leave this part blank.

Moreover, to start afresh, hit the “Delete All Products” button to remove all product records and the template will return to its initial state.

With keen attention to market elasticity and segmentation, the calculator facilitates price differentiation and penetration strategies, supporting the successful launch and marketing of diverse products across various channels. Whether planning promotional campaigns or negotiating with resellers, our product enables you to set prices that not only cover costs but also appeal to different segments, maximizing both reach and revenue.

5. Dashboard of Product Price Calculator in Excel:

Finally, the calculator assists in determining the break-even point for each product, providing valuable insights into the revenue required to cover all costs associated with supply and production.
So, this sheet of product cost calculation has 3 different graphs with analysis for the chosen product.

1. The Base Cost Breakdown graph indicates the various cost components that constitute the product’s base cost.
2. The comparison graph compares the product’s sale price with the competition’s prices in the Database sheet.
3. Lastly, the total Sales Price Breakdown graph presents the total sale price which includes the Markup, Discount, Tax, and Platform Listing Fee.

Furthermore, Cash to Start measures the money required to make the product from scratch (COGS/Base Cost). While Breakeven Point demonstrates how many sales the seller needs to earn a profit ((Net Price-COGS)/Net Price).

The Markup/Planned Sales Price/Desired Profit and Discount fields show the inputted values.

While calculating the final sales price by filling in the New Markup/Planned Sales Price/Desired Profit and New Discount fields, you can view the New Final Sales Price or New Markup Rates of the product in this Product Pricing Calculator Excel Template.

Then, depending on the calculation method selected by you. The Desired Profit/Planned Sales Price/ fields automatically alter. Also, in the Markup Rate and Planned Sales Price method, the result is the New Final Sales Price, while only the New Markup Rate is displayed for the Desired Profit method.

(Since the net price of the product remains constant with Desired Profit held constant, the variables are Markup Rate and Discount Rate).

Thus, adopt our Product Pricing Calculator to navigate the complex landscape of product pricing confidently, ensuring that every quote generated is competitive and profitable, bolstering your market positioning and revenue prospects.

Product Pricing Calculator Excel Template Features Summary:

• Product pricing calculator in Excel template
• Analyzing the cost of similar products in the market to have a competitive edge
• Calculating fixed and other basics costs with an automatic dashboard
• Includes graphs to have a visual overview of the whole template
• Full print ready
• Informational notes included
• No installation is needed, ready to use
• Works both on Mac and Windows
• Compatible with Excel 2010 and later versions
• Includes VBA code and macros