Connection Between Pricing and Profit

[Kane]

You can basically set a higher price and sell to a niche market or set a low price and sell to the masses. When you are selling to a niche market, you are basically selling for a premium price and trying to generate a lot of profits by selling fewer units. However, when you are selling products with lower prices, you are trying to sell to the masses in volume and generate profits by selling a lot of units. What is your favorite pricing strategy?

 

[Frank]

I always want to sell to the masses. It is very important to understand the fact that selling to the masses can be a great way to have quicker turnovers. Also, what will happen when I lose my premium customers? That is a question anyone who is looking at in that direction should consider.

 

[Castelione]

Not always because success has many paths. It really depends on what we love doing. Some find success in fame, some in politics, some in working for others, and these are considered as success too.

 

[Heatman]

My favourite pricing strategy is actually what brings in enough profit for me and this is purely based on making more sales. After a long consideration on the best pricing strategy for me to use in my business of poultry and fish farming, I came to the conclusion that selling to the general masses is something that is going to bring more profit for me. This means reducing my prices to an extent where it will be easier for most of them to buy from me.

 

[Ja sa bong]

Reducing the cost of production in my business is the first priority which is targeted to increasing how much profit I would make from selling my products. This will make it possible to reduce the selling price and have more sales because customers will come for more when the products are cheaper in high quality.

 

[Heatman]

I always want to sell to the masses. It is very important to understand the fact that selling to the masses can be a great way to have quicker turnovers. Also, what will happen when I lose my premium customers? That is a question anyone who is looking at in that direction should consider.

In any kind of business, I believe that the more you are selling your business product and services to the general public at a very good price that you stand a higher chance of making more profit from your business. This is exactly why most people always preferred to be selling to a huge number of people.