1.What is Salesforce CPQ? The CPQ in Salesforce CPQ is short for Configure, Price and Quote. You can use it to generate new product details, sell appropriate product combinations, decide on product …
Here are highlights from article In Depth Salesforce CPQ Interview Questions
1. What is Salesforce CPQ?
– Short for Configure, Price and Quote.
– Used for generating product details, selling product combinations, determining quantities and rates, regulating discounts, checking stocks, automating approvals, and recording sales.
2. Key Features of Salesforce CPQ:
– Product Configuration: Configure products based on rules and constraints.
– Pricing and Discounting: Define pricing rules and discounts based on criteria.
– Quoting and Proposal Generation: Generate customized quotes and proposals.
– Guided Selling: Recommend suitable products based on customer needs.
– Integration with CRM: Seamlessly integrates with Salesforce CRM for a holistic view of customer data.
3. Definition of a product:
– An item, bundle, or service offered to customers for a price.
4. Standard Price Book:
– Lists regular prices for products.
5. Custom Price Book:
– Created to provide special prices based on different scenarios (e.g., region, country).
6. Pricebook Entry:
– Connects products with their respective price books.
7. Product-based Selling:
– Selling individual items or bundling multiple products together.
8. Service-based Selling:
– Highlighting personalized services and meeting customer needs.
9. Difference between Product and Asset:
– Product generates revenue for the company, while an asset is for the company’s own use and may have a depreciation value.
10. Link between product, price book, and pricebook entry:
– Products are represented by the Product2 standard object.
– PriceBooks are created to define pricing for products.
– PriceBook Entries connect products with price books.
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