What is your pricing strategy and why?

[Trey]

What I do is to add 30% of the cost price to the final price and sell. At that point I think that I am making more profit and that is a reasonable point for someone to sell.

 

[Ernestnari]

I don't know about you but my kind of customers pay for value. They believe that the higher the price, the better the product so they go for the goods with the highest price tag

 

[TomasVastik]

Since I only started (business with creating websites), I try to keep my price lowest in my area to get good reviews and recognition fast. After some 5-6 orders I will gradually increase the prices

 

[Emmy]

Placing price upon a product determine the margin of such product in the market after you have attributed direct cost and indirect cost to determine the contribution. Also you need research to know how other companies go about it.

 

[Kane]

My pricing is pretty simple. I always try to price my products and services less than what my competitors have. I keep the profit margins minimum, mostly under 10 percent.

 

[Mayorla]

Yes, that's true this one of the best way to grow your business especially if you have a competing business, you are expected to learn from them and make your own better, that's the best way to get success.

Yes, exactly. You can not set your price to be very high from the price of your competitors. Definitely, Potential customers would buy from your competitors instead of you. It is always good to learn from your Competitors.

 

[Mayorla]

That's just the facts Sir,if you have a competing business it will also help you to be very serious with what you are doing,and if you pay close attention you will definitely come out with good results.

The more competitors you have the more serious you would be with your business, because you don't want to be out of business. Continuous Research and monitoring your competitors would keep you in business.

 

[Shigobad20201]

Before you can decide on the price of any product , you first need to value to product to know the amount of price that will be on the particular product ,

 

[joy101]

Considering the price of product is very important when producing, so setting for the price involved in producing such a goods knowing the price your competitors sell can help you to determine the price to set.

 

[Frank]

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.

I am always focused on ensuring that things work out well with my customers and that is part of the reason that I give a good price at a great value that they won't get elsewhere. I want them to feel connected to my business and what it also entails as well.

 

[Good-Person]

I am always focused on ensuring that things work out well with my customers and that is part of the reason that I give a good price at a great value that they won't get elsewhere. I want them to feel connected to my business and what it also entails as well.

Taking good care of customers is a very important factor and I think that pricing strategy can help you in many ways. You can adjust the price of a product and make your customer feel comfortable buying different kinds of products. A moderate amount of pricing is much better and this could satisfy you and your customers as well.

 

[Ja sa bong]

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.

You can find the price of a product by conducting a market survey on the said product. This is how I was able to find out pricing information about my business products. It would've been a bad strategy if I set the price without knowing what's been sold in the market.

 

[Good-Person]

You can find the price of a product by conducting a market survey on the said product. This is how I was able to find out pricing information about my business products. It would've been a bad strategy if I set the price without knowing what's been sold in the market.

I think that there are many different kinds of marketing companies that may have an idea about the actual value of a product. The services of such kind of marketing companies are usually offered by many different advertising and marketing companies that may also conduct online surveys as well. This is a very common marketing strategy in many developed countries.

 

[Ja sa bong]

I think that there are many different kinds of marketing companies that may have an idea about the actual value of a product. The services of such kind of marketing companies are usually offered by many different advertising and marketing companies that may also conduct online surveys as well. This is a very common marketing strategy in many developed countries.

If you're starting a new business which have an existing similar products in the market, don't you think it's wise to carry out a market research to know what prices they are being sold in the market instead of fixing prices blindly?

 

[Good-Person]

If you're starting a new business which have an existing similar products in the market, don't you think it's wise to carry out a market research to know what prices they are being sold in the market instead of fixing prices blindly?

Price fixing is a different thing. Price fixing occurs where monopolistic market takes over and gains momentum over other kinds of markets. If there is no competition, then the company may carry out research, as you mentioned. This would be the right kind of step a company should take.

 

[Dice]

My pricing strategy is to offer competitive and fair prices for my products/services. I do this because I want to attract customers and keep them coming back. By pricing my offerings reasonably, I can build trust and loyalty with my customers. It's important to find that sweet spot where customers feel they're getting good value for their money, and I can still cover my costs and make a profit. Ultimately, it's about creating a win-win situation for both me and my customers.

 

[Good-Person]

My pricing strategy is to offer competitive and fair prices for my products/services. I do this because I want to attract customers and keep them coming back. By pricing my offerings reasonably, I can build trust and loyalty with my customers. It's important to find that sweet spot where customers feel they're getting good value for their money, and I can still cover my costs and make a profit. Ultimately, it's about creating a win-win situation for both me and my customers.

There are many businesses out there that manufacture products in a cheaper manner and sell those products at a very high cost. This is very important thing to consider because such kind of companies usually earn huge amounts of profits. They also create a market where price is fixed to some extent in order to make sure that customer has limited options when it comes to pricing.

 

[Frank]

My pricing strategy is to offer competitive and fair prices for my products/services. I do this because I want to attract customers and keep them coming back. By pricing my offerings reasonably, I can build trust and loyalty with my customers. It's important to find that sweet spot where customers feel they're getting good value for their money, and I can still cover my costs and make a profit. Ultimately, it's about creating a win-win situation for both me and my customers.

The keyword is value for money spent. When the customer feel that they are not getting the value that they need, it is going to be a difficult situation for them to keep patronising the farm. So, ensuring that you sell at a price that they feel okay buying from you is very important.

 

[Good-Person]

The keyword is value for money spent. When the customer feel that they are not getting the value that they need, it is going to be a difficult situation for them to keep patronising the farm. So, ensuring that you sell at a price that they feel okay buying from you is very important.

I reckon that pricing is one of the most difficult aspect of any kind of business. This is because the product manufacturer may think that they have priced the product in the right manner. However, this may not be the case from customer's point of view.