Is it possible for a liquid chemical to have a pH value lower than its aqueous solution?
The concept of pH tends to break down when water is not greatly in excess of the solute (e.g. if your product is a highly concentrated amine base). The apparent pH of your product, when measured using a pH meter or an indicator, may be relatively low (seemingly less basic) if the solution has a less polar environment than that of pure water--because ionization will be less favorable.

If no water is present at all, the product might still give a pH reading with a meter or indicator, but the term "pH" in this case would be irrelevant.

It always helps to talk specifics with chemistry, so I am curious as to what the ingredients of the product are.