In normal circumstances the selling prices should be in a position that can cover for the cost of production, the existing prices for the products by the competitors among other factors.
What are the tips to look into before you set the selling price?
- Thread starter Xtynehappy
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You have to follow the suggested retail price ( SRP) in your country, in your community's common pricing. Do not create your own pricing. People are comparing the prices. As much as possible reduce a bit so people will flock to your business center.
One nedd to set a selling price thst is competitive. you don't have to make your products pricey or else you might run your business down with no patronage.
eLdavis
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For me when setting my price, I usually look at the cost of production and most importantly how much others in my line of work are selling theirs.
You would have to consider the prevalent prices of inputs. That's because you would need to be in business after the selling cycle and you would need enough capital to stay in the business after that.
You have to look at the quality of the products. people need money worth. The high price should be given to quality products too.
