What actually influences a product's price?

[Shavkat]

The majority of pricing is determined as a ratio of the manufacturing costs, but it also needs to consider the price of marketing and advertising, the cost of delivery, and the pricing of competitors.

 

[Enxx]

Also the cost of instruments used in producing the product

 

[Sanjeev]

I feel its quality, cost of production, transportation and after-sale services are the major things which affect the price of the product.

 

[Niyi Briggs]

I think the two factors that help to determine the price of a product is the cost of production and the demand for the product. The both factors have a direct and positive relationship on price.

 

[Sanjeev]

I think the two factors that help to determine the price of a product is the cost of production and the demand for the product. The both factors have a direct and positive relationship on price.

That's true sometime demand also affect the price of the product. When the availability of the product is less in the market and the demand is high, obviously the rate of the product is kept high in this case.

 

[Springtime]

I think factors which determine pricing include Costs and Expenses, Supply and Demand, Competition, and Customer Perception.

 

[eldavis]

I think one major factor besides cost of production is also cost of transportation. Most small business owners tend to add extra to their goods and services and they blame it on the cost of transportation.

 

[Enxx]

I think one major factor besides cost of production is also cost of transportation. Most small business owners tend to add extra to their goods and services and they blame it on the cost of transportation.

This has made the cost of of some foreign products costly due to the shipping fees and other transportation fees

 

[flower]

The price of every product is usually influenced by the cost of production.

 

[uptrendfinancialsignal]

The price of every product is usually influenced by the cost of production.

The price of commodities are easily influenced by cost of production.

 

[Bisolami]

The price of commodities are easily influenced by cost of production.

When people calculate the amount of money they used to produce a product they will be able to determine how much they will sell the product

 

[Chibson]

The major thing that influences the price of a product is the cost of production. The cost of production is always put into consideration before a particular price is tagged for that product.

 

[Reedex]

The cost of the materials that were employed in the production of the items will contribute to it cost.

 

[Chibson]

The cost of the materials that were employed in the production of the items will contribute to it cost.

Yeah, the cost of raw materials used in producing the product is what mostly influences the price. A lot of other things like the cost of machines used in powering it and cost of transportation are also put into consideration.