Microsoft Dynamics 365 offers a variety of useful functions in the areas of product management and price management. Before making use of these functions it is advisable to deeply think through your present product strategy and price strategy. When doing so try to answer strategic questions such as:

  • Which products and services are being offered?
  • To which prices are the products or services being offered?
  • To whom are the products and services being offered?
  • Which packages are being offered?
  • What currencies do the prices have?
  • Which product groups exist?
  • Which seasonal price variations exists?
  • Which bargains are being offered?

Once you have found an appropriate answer to all these questions, you can document everything you have decided on.

Sales literature

Using „sales literature“ you can easily create and publish product lists, price lists, brochures, marketing campaigns and many other useful documents, so that your sales and marketing team is provided with useful material to better connect with customers. Simply go to the sales module, and click on sales literature to find all published documents.

Sales Literature in Microsoft Dynamics CRM

By clicking on the “+” button you can create a new document.The „Sales Literature“ form contains information on the document type, title and author. The „Sales literature“ entity can contain several „Sales Attachments“, e.g. brochures and product information. One can also attach other entities such as competitors and products.

Sales Literature Form in Microsoft Dynamics CRM

Price lists, product lists, unit groups

Use Microsoft Dynamics 365 to create product catalogues, which contain product lists, price lists, bargain lists and unit groups. The latter defines the unit of measure for each product. You can also manage different currencies, which is especially useful for internationally orientated companies. Follow these steps to create a product catalogue.

  1. Create a bargain list (optional).
  2. Define unit groups.
  3. Create products and associate them to packages and product families.
  4. Create price lists and price elements.
  5. Associate each product with a price list and a price element.
  6. Define default price lists for your products.

Managing Products and Prices with Microsoft Dynamics CRM

 Attaching sales documents to CRM entities

Product lists, price lists and unit groups can be added to proposals and orders. This is extremely useful, as it saves you having to type in product and price information. The following example will explain how this works: Should a lead show interest in buying products that specific lead will be qualified and converted to an opportunity. Users can define the product type, amount of products and price by adding price lists, product lists and unit lists. To do so, one must simply click on the “+” button in the “Product line Items” field within the opportunity form.

Attaching product lists and price lists to records in Microsoft Dynamics CRM

When creating an order or invoice based on the opportunity form, the attached product and price information will be inherited. Remember that you will need to create a template for the respective entity if you wish to do so.

System calculated

The opportunity form also contains information on the estimated budget, which can be manually typed in or system calculated. The latter requires the activation of the „system calculated“ function. When doing so the estimated budget will automatically be calculated based on the product and price information attached.

Write in Products

Should one want to add products which have not yet been added to the product catalogue or miscellaneous costs such as travelling cost, this can be done using „write in products“ This feature enables users to manually add products or costs. “Write in products” can be added in the “product line items” field within the opportunity form.

All in all, Microsoft Dynamics 365 enables you quickly to create, manage and publish sales documents, so that sales and marketing employees can quickly find the information they need to connect with customers. Users can easily create product lists and price lists, which can be attached to all important sales entities such as opportunities, orders and invoices. Other useful functions such as the “system calculated” feature and “write in products” save you time and offer more flexibility.

Price- and product management is one of the many fields of application, which Microsoft Dynamics 365 deals with. Click here to discover what else this powerful CRM system can do or take a look at our blog for more useful information.