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[Medowriter]

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.

 

[Franca01]

The price of a product can be determined by demand and supply of that particular commodity. The price of product can be determined by some of these factors: the quality of the product, quatity of the product and the cost of production. In this, when demand of the product is high, the price of the product will also be high and if the demand is low, the price of the product will also be low .

 

[Skysaint]

When determining the price of a product, it is advised that you put literally everything in consideration starting from what you used in purchasing the raw material, the transportation and the rest if it.
This is why people buying a particular product from different regions would have to pay different amount of money.

 

[a_jerobon]

When determining the price of a product, it is advised that you put literally everything in consideration starting from what you used in purchasing the raw material, the transportation and the rest if it.
This is why people buying a particular product from different regions would have to pay different amount of money.

Yeah, you need to make sure that everything is considered so that you don't run a loss. You have to cover all transport costs, buying costs and manufacturing if it was there. But also remember that you also need to sell within the market price, otherwise people will patronize other businesses that have better prices.

 

[BullyMaguire]

production cost as well as workers that puts it together or the people that run the production. how much it cost to ship and supply the items. how much cheat or expensive you got the part or ingredients.

 

[Franca01]

production cost as well as workers that puts it together or the people that run the production. how much it cost to ship and supply the items. how much cheat or expensive you got the part or ingredients.

Sometimes, i always think the cost of production always determine the price of the product. A shipping cost is always different from the cost of the product. shipping of the product is always in the hands of the middle man in the business.

 

[BullyMaguire]

Sometimes, i always think the cost of production always determine the price of the product. A shipping cost is always different from the cost of the product. shipping of the product is always in the hands of the middle man in the business.

it depends. if you have a middleman but usually if you have a production business you and you're not that big yet you have to deliver and ship it to the stores yourself at your own expense. this is why goods are getting expensive a lot because. while you don't actually add that expense to the total cost of your product you have to take note of that so you can price your goods good enough to pay for such things and still have money as profit

 

[Franca01]

it depends. if you have a middleman but usually if you have a production business you and you're not that big yet you have to deliver and ship it to the stores yourself at your own expense. this is why goods are getting expensive a lot because. while you don't actually add that expense to the total cost of your product you have to take note of that so you can price your goods good enough to pay for such things and still have money as profit

Yes, you need to always adjust so you can always price your goods to recover the shipping cost which can prevent you from unnecessay losses. Sometimes many people who are not into business don't always know the risks involves if your don't the goods with the expected price.

 

[IB DD]

In a capitalist market, the forces of demand and supply create price levels that keeps the market balanced. Other factors that can determine the movement of the price of a particular product is the price of competing products and complementary produced too.

 

[Skylark]

One of the most important is the cost of production. This includes the cost of materials, labor, and any other overhead expenses. Additionally, the market price of similar products, the demand for the product, and the cost of marketing and advertising all play a role in determining the final price.

 

[Flower]

The determination of the price of a product is very important and it play a major role in carrying out business plans or strategy. There are some factors that need to be put into consideration before you get involved in pricing.

 

[Lens_]

It is crucial to understand the cost of production because this is essential whenever you want to set a profitable price for your product . This includes putting into account the direct cost like material and labor and as well as putting into consideration the indirect cost like the overhead expenses.

 

[Flower]

Conducting proper market research play a very important role whenever you want to carry out pricing . Analyzing competitors price customer preference and putting into account the market demand helps whenever you want to set a price.

 

[Lens_]

It is also very important to consider a perceived value of your product because your target audience would put into consideration factors like brand reputation, quality and unique selling point . This is what we influence them to pay.

 

[Flower]

Pricing strategy should be in line with your business goals and objectives. It is also important to take into consideration the positioning in the market. You can go for a cost-based pricing, value based pricing or competitor based pricing . All of these depends on the objectives of the business.

 

[Lens_]

You must put into concentration economic factors whenever you want to determine the price of your products or services . The economic factors such as supply and demand dynamics , inflation and currently fluctuation must be considered because they are very essential.

 

[Flower]

Considering the product life cycle is also one of the thing to put into consideration when determining the pricing model. It is crucial to introduce a pricing that would be used to penetrate the market in terms of the strength of the product.

 

[Lens_]

It is critical to use dynamic pricing strategies . This is a process where prices adjust based on real time market conditions and based on customer behavior. This would help you to optimize revenue and it will also maximize the profit margin as well.

 

[Flower]

Regulatory consideration should also be put into account whenever you are determining the price of your product . Regulation such as pricing regulations or tax implications need to be put into consideration in order to ensure compliance and you would avoid legal issues as well.

 

[Lens_]

Considering the impact of external factors like season and events on pricing is one of the things to put into concentration. Adjusting the price accordingly would help you to capitalize on the temporary opportunities that is in the market or mitigate the risk.