What is your pricing strategy and why?

[Electrohunter26]

Why you need to know: Customers pay for value. It is difficult to make a large gross profit on a commodity.

Where to find this information: Split test new, higher prices with customers.

 

[Setho]

I usually try to consider the amount of money in which I spent in producing the product and the price in which my competition are using in order to determine my price. This is because I want to keep it as competitive as possible.

 

[Ononivami1]

The price of commodities is solely dependent on the cost of production. The amount of money spent in the production process will determine the price of the goods and services.

 

[Sincerem]

The cost of production is an important factor In terms of how I would price a product, and sometimes I try to know how much other people are selling the same product so that my prices aren't too low of too high, so I can keep getting those Customers I need.

 

[Shigobad20201]

I usually try to consider the amount of money in which I spent in producing the product and the price in which my competition are using in order to determine my price. This is because I want to keep it as competitive as possible.

As a good entrepreneur when deciding your pricing strategy , you must first consider all the money you have spent on the product and also try knowing the amount your competitors are selling their products before deciding your price.

 

[glitch]

You have to factor in different things.

The cost of supplies. The cost of labor. The cost of general manufacturing. The cost of equipment. There is a lot that goes into this and it really depends on the product. If it is a smaller business, usually you factor in the cost of supplies with the cost of production.

 

[Popular]

I consider the cost of production labour force introduced, cost of transport. Then I add the profit I need to make to at the end of the day. Then I try to balance the price I fixed to similar products price around.

 

[Danny4cash]

The value of product will definitely determined it's price. Valuable product are priceless. What is use to determine my price is how valuable the product is and how much the customers need the product. Some goods are want. While some are need.

 

[Syldan]

When it comes to pricing of commodities, it will be absolutely wrong to just wake up one day and decide to increase the price of your services. they to find out the demand for such and your competitors strength to accommodate what you have brought forth if not you will lose your market.

 

[Smiles20]

I will need to really consider multiple factors whenever I want to set a price for a product like how much it cost me to produce it and how much my competitors are charging.

 

[Shigobad20201]

I will need to really consider multiple factors whenever I want to set a price for a product like how much it cost me to produce it and how much my competitors are charging.

There are many factors which you need to follow when determining the price of a product first you need to know the general price that was set on the particular product and why , check the competition in that business before setting yours .

 

[Laurentta]

The price of a good or service rendered depends on the cost of producing the goods and all other expenses incured when producing the goods or rendering the service.

 

[nana kwasi1]

Being a good businessperson, you must first take into account all of the expenses you have incurred in developing the product as well as the price at which your rivals are selling their goods.

 

[Joseph555]

There is a lot that goes into this and it really depends on the product. If it is a smaller business, usually you factor in the cost of supplies with the cost of production.

 

[Shigobad20201]

I am into baking and before I have my final price for my product , I normally check my competitors price , then confirm the price of the materials I am using for the production before having my own final price .

Being a good businessperson, you must first take into account all of the expenses you have incurred in developing the product as well as the price at which your rivals are selling their goods.

 

[Kvngsammy]

Pricing strategy might be a little difficult but then I'm someone who doesn't seek to make excessive profits on my products. Once I've been able to recover cost price and cover miscellaneous expenses, I could literally take low profits

 

[Joe2]

Product value will undoubtedly affect how much it costs. Products with value have no cost. The price I charge is based on the product's value and the degree to which customers need it. Some products are required.

 

[Ronny_4son]

I think that the pricing strategy depends on the quality of the goods and/or services, and will also take into account any expenses incurred while dispensing this product or service.

 

[Jonaville1]

I usually try to consider the amount of money in which I spent in producing the product and the price in which my competition are using in order to determine my price. This is because I want to keep it as competitive as possible.

I will consider how much I used to produce the product and the amount of money I used to promote the product. This will give me an insight of what price I should give to the product.

 

[Mayorla]

Setting price for good or service is largely dependent on the cost involved in producing such goods or services. Knowing the price your competitors sell these goods can help you in determining the price to be set.