There are many aspects and considerations in pricing a product. First and the most basic is the cost of making or buying the product, including overhead and labor and the parts. That is the basic line. Then how much income a company is looking to make to cover these costs and expand the company, or if it is a nonprofit organization. Also, what is the cost of similar products? How much can the market handle. A company can price something based off of quality, but if there target market can't afford the product and there are comparisons that are less expensive then they will not see any. Awareness of what is going on around them, and not solely on the workings of their own company is the most important tip and what company's should most worry about.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment