Finding Product Prices for Quotes
As a Sales Analyst, I frequently need to create quotes for customers. This involves looking up the price of various products from a large product catalog. Manually searching for each product's price is time-consuming and prone to errors. I need a quick and accurate way to pull the price based on a Product ID (e.g., from cell E2).
=VLOOKUP(E2,A2:C5,3,FALSE) How it works: This formula searches for the value in cell E2 (the Product ID) within the first column of the range A2:C5 (your product catalog). Once it finds a match, it returns the value from the third column of that same row, which corresponds to the 'Price'. 'FALSE' ensures an exact match, preventing incorrect prices for similar IDs.
Data Setup
| Product ID | Product Name | Price |
|---|---|---|
| P001 | Laptop Pro | 1200 |
| P002 | Monitor X | 300 |
| P003 | Keyboard Z | 75 |
| P004 | Mouse M | 25 |
Step-by-Step Guide
Enter the Product ID you want to look up into a cell (e.g., E2).
Select the cell where you want the price to appear.
Enter the VLOOKUP formula, specifying the lookup value (E2), the table array (A2:C5, assuming your product catalog is in columns A to C starting from row 2), the column index of the price (3, as Price is the 3rd column in A:C), and FALSE for an exact match.
Press Enter to get the product price.
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Retrieving Product Prices for Quotes
A sales analyst needs to quickly find the price of a product given its Product ID to generate accurate quotes for customers. Manually searching through a large product catalog is time-consuming and prone to errors, impacting sales efficiency.