Factors Determining Selling Price

[Bisolami]

Thats right
It depends on how much you buy the products and also the transport fare.

To determine the selling price is not too easy, business people must be able to take adequate profit so that the survival of the business will remain stable. Businesses (especially beginners) must consider several important factors when determining the selling price of a product. In your opinion, what are these factors?

 

[Chibson]

The selling price is determined by different factors including the cost at which the products what's back from the market,, The rise and fall of a country's economy. Etc

Yes, this is actually one of the major things that determines the price of products in the market. If inflation is affecting a particular country the price of products will go high.

 

[Niyi Briggs]

I have learnt that you don't just consider cost of production to fix your price. You should also consider prevailing market price so that you can restock again.

 

[Chibson]

I have learnt that you don't just consider cost of production to fix your price. You should also consider prevailing market price so that you can restock again.

Yes, this is actually once someone told me some time ago when I was asking her some questions about the business. She said that they always money to the prevailing market price and adjust their prices accordingly to be able to restock again.

 

[eldavis]

One major factor you need to consider when it comes to setting a selling price should be the cost of production it self. When setting a selling price you should be able make your profit as well.

 

[Stardom22]

Also considering the prices of your competitors is s very vital idea in the setting of your own prices for the commodities. However you should set a reasonable price not too low or not too high depending on your competitors' prices.

 

[Chibson]

One major factor you need to consider when it comes to setting a selling price should be the cost of production it self. When setting a selling price you should be able make your profit as well.

Cost of production is the major thing people put into consideration when determining selling price. It is actually the most important factor.

 

[Bisolami]

One major factor you need to consider when it comes to setting a selling price should be the cost of production it self. When setting a selling price you should be able make your profit as well.

You need to first calculate how much you used to make the product and also how much your transport fare was.

 

[Reedex]

The sales price of a business is totally dependent on the cost price.

 

[Stardom22]

The selling price of the commodities will solely depend on the cost of the production, the prices of the existing competitors on the market. Your selling price must go in line to that of your competitors or else.

 

[Chibson]

Yeah, the cost of production always determines the price. When the cost of production is low the price of a particular product will also be low.

 

[Reedex]

The selling price is often determined by the cost of production.

 

[Stardom22]

The selling price can be determined by the type of the customers you are dealing with. Are they the type of looking for low priced products or higher quality products. The higher the quality, the higher the prices.

 

[Niyi Briggs]

It is for the reason of fixing prices that a business person should never joke with records. Your records of expenses for a particular production can help you fix price.

 

[Chibson]

the selling price is mostly determined by the cost of production. That is why some businesses try to cut down the cost of production to maintain competitive prices.

 

[IB D]

The most important factor that determines the price of a product is the cost of production. Other factors are secondary.

 

[cherry123]

The most important factor is always cost of production,how much was put into the manufacturing and many other minor things will also come in to determine the price of the product. .

 

[Chibson]

Yeah, sometimes whenever some certain things like petrol increase in price the price of products will skyrocket. The reason is because of the increased cost of production.