BAQ Product

Business Assessment Questionnaire – Product

    Do you know what the customers’ needs are?

    Are your product(s) and/or services better than your competition?

    Do you manufacture or assemble any of your products?

    Is there an advantage for customers to buy from you?

    If so, is your advantage substantial?

    Can you define your target market?

    Do you introduce new products on a regular basis?

    Do you have a plan for developing new products?

    Do you have reliable supply sources for your products?

    Have you done an analysis of your competitors?

    Are you using cost plus pricing (take the product cost and add enough to cover your costs and profit)?

    Are you using market pricing where the price is derived from market value of your product/service?

    Do you have a quality assurance program?

    Do you evaluate your sales by product to improve sales on slower-moving products/services?

    Do you manage the product mix and eliminate underperforming products/services?

    Do you understand the market trends affecting your business?

    Do you maintain an inventory?

    Do you own the inventory of the products you sell?

    Is your inventory unbalanced (too much of some items, not enough of others?)

    Is your lead time to replenish stock adequate?

    Is your product mix consistent with your marketing, sales and business strategy?

    Do you have products or services you will be introducing in the next 6 months?

    Have you introduced new products in the last 12 months?

    Last 24 months?

    Last 36 months?

    What is the price range of your products/services?

    What is the price tag of your average sale?

    Do you offer a warranty or guarantee of your products and/or services?

    Does any of your staff have special certifications which permit you to offer more products or services?

    Do your associates know your pricing structure?

    Note that #1 means you strongly agree,

    #2 means you somewhat agree,

    #3 means you neither agree nor disagree,

    #4 means you somewhat disagree and

    #5 means you strongly disagree.

    Our products and services are the best in the industry

    For the quality of our products and services, they are underpriced

    We bend over backwards to make our customers happy

    We guarantee all our work

    We use suggestive selling to “upsell” our customers

    We honor competitors coupons

    Our customer service is second to no one