MORALITY AND PROFIT MARGIN

[kayode10]

Integrity should be one of the quality of morality you are going to adopt for your business. This will help you in a long way in the Market place among the consumers of your products.

 

[Expert]

I wonder. I don't know if they feel they are the only one with that products, if they were to monopolise that product for these people, customers would suffer

Even a monopoly have other costs to pay later if they don't sell enough before a due date. The business owner would feel pressure from the community and then adjust the product's price accordingly.

 

[Kvngsammy]

People should begin to understand that the reason they're in business is to firstly provide solutions and not to extort or siphon people of their hard earned cash. With this is at the back of our minds, profiteering from people wouldn't be our major aim anymore

 

[Mayox25]

There are variables to consider in determining profit margin to put on a product. Except the manufacturer is a monopoly you have to consider the price of your competitor, market penetration.
If a product is overpriced then buyers will opt for another one.

 

[tyrim88]

The price you set for the products in your business should be in line with the other businesses. Setting yours to be too high is a sign of greed and out of moral standards. Even the customers will stop buying from you.

That is just the basic truth,once the customers sees that your price is arbitrarily high,they will just abandone your product and go for those that are much cheaper.This will make you to push down your price.

 

[Kane]

I think a business should always set low profit margins. You are in the business to make money, but you should never try to charge more than what your product deserve. There should be ethics and morality in pricing.

 

[tyrim88]

The price you set for the products in your business should be in line with the other businesses. Setting yours to be too high is a sign of greed and out of moral standards. Even the customers will stop buying from you.

That is just the basic truth,once the customers sees that your price is arbitrarily high,they will just abandone your product and go for those that are much cheaper.This will make you to push down your price.

 

[Good-Person]

There are many traders and businessmen in my city who are involved in unethical activities. They store the stock which they buy at a lower preice and then they sell that old stock at a higher price when the price rises. A law should be made to stop such kind of activities.

 

[joy101]

Depending the price of the product can determine the profit you get from the business, so you need to consider about the product so know how much you get from it.

 

[Kaffyfolla]

Margin is simply the money you made on the products/services you sold, after calculating your revenues minus cost of goods sold only.
The difference between profit and margin is important since it will give you an idea of where you are spending your money. If margin is low, that means the cost to create your goods or provide your services are way too high. If profit is low, that means the general expenses needed to operate the company are too high.

 

[Lens]

I don't think that there is a profit margin too much for a businessman. The profit added on a product depends on the price it is been sold in the market. You need to follow the price trend.

 

[Dagm1]

The prices you establish for your company's items should be comparable to those set by competitors. Setting yours too high demonstrates avarice and a lack of moral standards. Customers will cease buying from you as well.

 

[Godspower]

Morality is a personal choice when it comes to business. I have seen many entrepreneurs engage in unethical acts just to maximize profits while others usually maintain good moral practices in their business dealings.

 

[Thinker009]

Before you think of adding any profit ,you should analyse the situation and see if it would affect your gain and sales on the long run , because you cant just add unnecessary profit , it would discourage investors from investing

 

[Justin]

I think adding 10-25 percent profit margin is good and ethical, if you want to add anything more than 25 percent margin, you are only trying to become another Shylock

 

[Joseph555]

If those in your level in the industry are making 100% profit on a particular service rendered opting for 250% will be nothing short of greed; opting for 50% and you will be shortchanged.