Customers often write a letter requesting a particular brand or seller to write a price quotation letter in response. The request is made when the customer wants to purchase certain items at wholesale rates. Seller or companies write the letter requested by the customer which is known as price quotation letter.
What is a price quotation letter?
It is a type of business letter written in a unique business style in which the vendor of the products writes about the price of the product or a number of products.
The information provided by the seller regarding the price is, by and large, regarded as a quotation because the seller represents it as an offer to the customer. If the customer finds the price to be reasonable, he can decide to carry out a business contract with the seller.
What is the purpose of the price quotation letter?
When people are in the market to purchase goods of their choice, they often make a purchasing decision on the basis of the price the seller offers. If they want to buy several products and they also want to know details regarding the mode of payment, delivery time, etc. they don’t it convenient to write to the seller again and again and inquire about certain things. it also results in wastage of time.
So, the seller writes one letter and tries to respond to all the queries of the customer. The customer writes the request of quotation to multiple vendors so that he can compare the prices and end up finding a product at very reasonable rates.
Writing a letter to the customer with the price quotation:
It has been mentioned earlier, this letter is a type of offer that a seller makes to the customer. The seller wants his offer to be accepted so that he can start a business relationship with him. He can achieve this by managing to write the best and professional piece of information in the form of a price quotation letter.
To write an impactful letter, you are required to keep the following guidelines in mind:
Know the requirements of the customer:
Since this letter is written in response to the request of the customer, the seller might be aware of the requirements he wants to be fulfilled in the letter. in case you don’t remember those requirements, you can refer to that request letter and see what products the price of which the customer wants to know and in what quantity he wants to buy those products since the price and percentage discount varies with the quantity.
In addition to it, if the customer has specified the format or asked you to give an overview of the company, do provide all those details in the quotation letter also.
Make sure that quote is appropriate:
Most of the vendors end up making a quote that is not fit for their client and this way, they lose the customer. There are a few points that can be kept in mind if you are interested in making an appropriate quote.
- Read the request letter carefully
- Try to figure out what the client wants to know
- Provide the information regarding the market price and the price you offer if there is a difference
Provide information regarding delivery and payment mode:
This is the basic information that you cannot miss since the products the customer orders will have to be delivered and a payment mode will have to be used. Mention that in how much time you deliver products and what are the delivery charges. If you don’t charge for delivering products, do mention them in the letter. Also, mention all the payment modes the customer can choose to pay you the money.
Don’t write a generic letter:
Some vendors write one generic letter that is suitable for all and then send it to all those customers who request it. This approach can work in most cases but not all the time. You can write a quotation letter meeting all the requirements of the customer only when you write a letter specifically for that customer. This is one of the most important tips to remember for winning over your customers.
Sample Letter
[Name of your Company]
[Address]
Date
Recipient’s Name
Address
Subject: Letter of price quotation
Dear (Name of Recipient),
I am writing this letter to inform you of the price quotation for the services you have asked for (state services). Including taxes, this amount will be (state amount) per month.
As you are a new customer, we hope to build a long-term relationship with you and so will be offering you a (tell amount) discount on the monthly purchases for a year. This is if you stick to the agreed terms and conditions.
We hope to work with you and provide you with efficient services.
Yours Sincerely,
Your Name
Company Name
File: Word (.docx) 2007+ and iPad
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