What are the circumstances for you to increase the selling prices?

[Stardom22]

For me when the inflation rates rise up and the cost for running of the business being skyrocketing, l would increase the prices promptly.

 

[Starmix]

That happens to my milk tea business. The price increases too. The milk tea ingredients are getting high.

 

[Shavkat]

It will increase my products' prices based on the current economy of my country. I think most businessmen do this.

 

[Fidelia]

I don't inflate the selling prices if my products except the cost of production increases. I have to be profitable, and I must take up the prices accordingly.

 

[cherry123]

It will increase my products' prices based on the current economy of my country. I think most businessmen do this.

Yes, the cost and expenses of a business needs to be considered which can directly affects the selling price of a products

 

[nomad]

When the price of raw materials increases, product cost increases, therefore, I also increase selling price

 

[Niyi Briggs]

Also, when the demand for the products become inelastic, you can afford to increase prices without facing any challenges.

 

[Stardom22]

For me when the cost of production becomes higher the business managers are obligated to rise the commodity prices accordingly.

 

[Etini Willie]

When transportation or other important variable that affects the general business terrain increases, I would have to increase the prices of my products.

 

[Stardom22]

When the transportation, labour and the utility cost rise, the business manager is genuinely obliged to increase the selling prices for the products.

 

[cherry123]

Situations like high price of raw materials will naturally bring about the, product cost increase, so there will be increase in selling price too

 

[freelancermaria]

At times, you may have no choic but to raise your prices, such as when your supplier raises their prices.

 

[eldavis]

The time I normally increase my selling price is when the price for production goes up, or if I see I am selling at a loss compared to the price of others.

 

[Stardom22]

The main circumstances that lead the business managers to raise the selling prices, is the increase in the cost of production.

 

[Ratine]

Sometimes that comes automatically especially during the inflation times where the prices skyrockets because of the higher inflation rates.

 

[King Belieal]

When poultry feeds and drugs increase, I would surely have to increase the prices of the chickens that I produce.

 

[Stardom22]

It also depends on the types of the products being delt with for sure. I think that cheaper prices attract more sales

 

[arunima]

Inflation touches everyone. My raw materials are now more expensive and so is the delivery charges. I have to keep them in account while setting a selling price. I have just made a minimal increase for the time that I put in. I can compromise on that to some extent but not on other things that are not in my control.

 

[Ratine]

In my country the business managers or owners are expected to increase the prices when the inflation rates increase.

 

[Stardom22]

Selling prices is the main determinant factor for any business to get sales that directly affects the sales and performance of the business. Therefore one should be very keen especially when increasing it's value.