Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

Join us now to get access to all our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, and so, so much more. It's also quick and totally free, so what are you waiting for?
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

Price determination of products

M

Medowriter

Guest
There are factors that determines the price of products once produced, the basic ones are cost of production and raw materials. I wish to know the environment or markets you sell your products to also affects your price determination.
 
Sure,the market one's sell also affect the price,if it online market place though you signup free and might create your store free but you'll pay for listing fees and commission for each sale and this might affect the end price,even offline it depends on the market some markets don't buy tickets before one can sell in it while others buy tickets and even pay for taxes before one can sell in it.So you see the price changes because one paying and the other one not paying their products prices can't be the same.
 
I also know supply and demand of products play a big role in price determination. If demand for products is high, the price will also go up because sellers want to make profit and viceversa. If supply is high, prices will go down because sellers want products to be sold faster to reduce the excess.
 
Also the competition matters = ) You need to know how your competition is estimating their work . You need to compete with their prices and beat them . The quality of the product means a lot as well. If your product is the best quality then its more obvious you gonna have a higher price on it = )
 
If customers want a specific product, then the price of that product will go up in price. Sellers want there products to be low in prices so the customers will purchase them.
 
Price of a product basically depends on the demand and supply of that product in the market. If the demand is high and the supply is not at the level of the demand then the price of the product shoots up . If however the demand is high low and the supply is high then the prices go down.
 
I also know supply and demand of products play a big role in price determination. If demand for products is high, the price will also go up because sellers want to make profit and viceversa. If supply is high, prices will go down because sellers want products to be sold faster to reduce the excess.
Yes I agree with this that demand and supply really matters on why a certain price of the basic commodities are rising up or going down. We should take a look on these factors whenever we will be dealing on business.
 
Sometimes fortuitous events such as the typhoon and other calamities affects the price a certain commodity or product in the market. We should also take a look on these factors so that we can be ready for the sudden increase in its price.
 
Yes, you are right! Here under such circumstances the Law of 'Supply and Demand' comes into action. Because of such natural calamities the transportation gets tougher so the supply at the place where the commodity is required gets hampered though that may be available in ample in the market, so the demand increases so the price too! However such increased prices are having temporary phase! In fact these types od sales selling above the recommended price is termed as 'Black Marketing' which is a clandestine practice of doing business!
It is really inevitable to have such fortuitous events because it give significance on the increase of the price of the basic commodities and even the government cannot make any move for that as the situation arises.
 
It is good to set a lower price for your products,if you want to have success among your clients.Your products must be of quality too,so your clients will be content and will return to your site to buy again from you. Try to sell them in bulks,to have some profit for yourself too.
 
Other than the cost of production, raw naterial, transportation, demand and supply...it is also the market share that is very important in determining the cost of the product. If your product targets or is used by larger population, you can have low rice as the sale would be in good number but if the consumer number is limited, you have to have high price to make up for all the costs involved.
 
Yes,you are right about it.You must take in count after the first strategy set up on your marketing,after waiting for the first results,how many clients are willing to buy your products.Always try out more selling strategies,to see how clients react to it.
 
Yeah, the producers try to shift their taxes on consumers! That's known as shifting of producer's burden!! I think, they also include the charge for their hired brand ambassadors!
 
I didn't know about this type of procedure till now.There are really good offers online,some of the products are really at advantageous prices and of quality too,as I have read from other members reviews,so how it is possible to include additional costs in product's price?
 
Demand and supply are also good factors which determine price of products. When manufactures lower amount of goods produced for their own reasons, price of the affected products tend to increase. This has nothing to do with raw materials since suppliers and buyers are into the soft fight
 
I have noticed some fluctuations of the price of different products.There might be a good marketing strategy and well thought because it seems to work well,since it is applied for a very long time this change of the price of products.
 
Other than the cost of production, raw naterial, transportation, demand and supply...it is also the market share that is very important in determining the cost of the product. If your product targets or is used by larger population, you can have low rice as the sale would be in good number but if the consumer number is limited, you have to have high price to make up for all the costs involved.
This is a very good point, in business one needs to be very creative, when you reduce your price you tend to sell more and faster , the little price cut off can be maximize from the greater volume of sales.
 
Brand value of a product is an important factor while determining cost. If the company have a good brand value then it can add more profit margin because buyers will purchase even though the product is at higher price.
 
Brand value of a product is an important factor while determining cost. If the company have a good brand value then it can add more profit margin because buyers will purchase even though the product is at higher price.
This is a good point but you should also remember that there are competitors around, when a company sell at higher price because of the good brand name the customers who can't afford will opt for other brands and if they derive almost the same satisfaction they may influence others to shift base.
 
If there is some feature which is unique to the product, it can go for a higher price. If this unique feature targets a small niche of group and can sustain with that small customer base, the high price of product will not affect the sale. Apple phones are a good example of that. Despite their high price they still are doing profitable business.
 

📢 Recommended Partners

MGID - Native Performance & Programmatic Advertising Platform MGID Team
0.00 star(s) 0 ratings
Updated
Roobet.com | Crypto’s Fastest Growing Casino 🦘 Roobet.com
0.00 star(s) 0 ratings
Updated
Duckdice.io - Top Crypto Gambling - Bitcoin Dice DuckDice.io
0.00 star(s) 0 ratings
Updated
BMFAds.com - Advertise and Monetize Your CPC, CPM, POP Traffic BMF Staff
4.00 star(s) 4 ratings
Updated

banner

REWARDS: Active Raffles


  • 🤑 Roll 3: Win 100,000 BMF Points!

    The entry period for this raffle ends in..
Back
Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.