Do you Over-price or worse still, Under-price your products? Have you figured out the science of pricing?
It’s simple if you are paying attention.
• Understand your consumers and the market you are aiming for
• Understand what your competition is charging (do research)
• Figure out the highest possible and lowest possible price you can set
• Work out the costs incurred to make your product (raw material, man power, electricity, transportation etc)
• Consider other infusing factors
• Set your price.
It’s simple if you are paying attention.
• Understand your consumers and the market you are aiming for
• Understand what your competition is charging (do research)
• Figure out the highest possible and lowest possible price you can set
• Work out the costs incurred to make your product (raw material, man power, electricity, transportation etc)
• Consider other infusing factors
• Set your price.
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