Product Bundles is a great new feature in Microsoft Dynamics CRM 2015. Product Bundles allow organizations to bundle products and assign specific pricing for that bundle. Once the bundle is added to an opportunity, quote, or order, the sales person can simply adjust the quantities of the products within the bundle, and the pricing will be calculated accordingly. In this blog, will be discussing the complexity of having a different price for items in a bundle versus not in a bundle. We will show you how to:
- Create a Product Bundle
- Create a Separate Pricelist for the Bundle Price
- Use the Bundle Price on the Opportunity
How to Create a Product Bundle
Let’s say you are selling deadbolts and keys. A deadbolt is $50, keys are $6.50 each, and a deadbolt and two key bundle is $60. If customers need more keys as part of a bundle, you sell them for $5 per each additional key. Before you can build the product bundle, you first need to add the Products.
1. Navigate to the SalesĂ Products area of CRM, and click Add Product.
2. Enter the required fields: Name, Product ID, Unit Group, Primary Unit, and Decimals Supported. Then click Save. You will see the warning: “A defaultÂ price list has not been set”.
3. Scroll down to the Additional Details tab. Click the plus sign (+) to create a Price List item, where you can then set the price of the product.
4. Fill in the necessary fields and then click Save and Close.
5. Now, scroll back up on the Product and set the value for Default Price List. You will notice that the prior warning no longer displays.
You can now create the remaining products in the same manner. In our example, we’ll create the SafeLock DeadBolt Key at the price of $6.50 in the Default Price List by following the same steps as above.
Next, we can create the Price List that will control the individual prices.
How to Create a Bundle Price List
1. To set the Bundle Price, add another price list item in Price List Items sub grid by clicking +. In the Price List Item form, add a new price list called Bundle by using the Price List field. (Click on the magnifying glass next to Price List, Lookup More Records, and click New to create the new price list.)
2. Set the price as $5.00, Save and Close.
3. Now we are ready to create our bundle. Click Add Bundle to create a bundle product. Call it, “SafeLock DeadBolt with Keys”.
4. Set the price of the bundle at $50 by adding a Price List item where the Price List is Bundle. Remember to set the default Price List as Bundle as well.
5. Now we are ready to add the products. Scroll down to Bundle Products and click the + sign.
6. First, add the DeadBolt and make sure the Required field is set the value of Required.
7. Then, add the second product, the SafeLock DeadBolt Key we created earlier, and set the Quantity as 2. This time though, make sure the Required field is set to Optional.
8. Navigate to Products and select the two products and the bundle, one by one, by clicking the checkbox beside each one and click Publish and then click Publish again.
How to use the Bundle Price List on an Opportunity
Now the bundle is ready to be sold. Let’s create a new opportunity to see how this works.
- Navigate to Sales, Opportunities and click New. Enter a topic, such as “Bolt with lots of keys” and save the opportunity.
- Scroll down to Product Line Items.
- Set Price List as Bundle.
- Set Revenue to System Calculated.
5. Click the + in Product Line Items and select Existing Product. A lookup field will appear under the Product Name column. Click on it, and select the bundle we created.
As seen below, the bundle along with the products is added to the opportunity. The estimated Revenue is set to $60.
At this point, if your customer says, I have two kids and I will need four keys, the user will simply need to modify the Quantity field in the SafeLock DeadBolt Key row. CRM will then recalculate the total.
We hope this feature and our blog today gives you an idea of the many ways you can use Product Bundles in a variety of situations. If you are looking for more information on Product Catalog Enhancements for CRM 2015, check out our website. And as always, happy CRM’ing!