What is your pricing strategy and why?

[eldavis]

Every business owner should have a specific pricing strategy on how they fix price on their goods and services. The price should never be too high or too low. What's your price strategy for your business?

 

[Edulady]

i price according the the market. i also consider how much i pay suppliers so i make sure i dont price too high or too low.

 

[Snoopsaint]

I consider the value of the product and the demand for it

 

[cherry123]

Every business owner should have a specific pricing strategy on how they fix price on their goods and services. The price should never be too high or too low. What's your price strategy for your business?

This is a sure thing to do.You don't have to make your selling price too high it will scare away the customers and for low price you would not have profits

 

[Springtime]

I don't own a business. I do translation on a freelance basis. I use competitive pricing strategy. I charge what the competition charges. I don't compete by lowering my rate. I want to excel on my translation skills and service offered to clients.

 

[cherry123]

I don't own a business. I do translation on a freelance basis. I use competitive pricing strategy. I charge what the competition charges. I don't compete by lowering my rate. I want to excel on my translation skills and service offered to clients.

You are doing great already but you need to have a competitive price too. Doing it this way will help you get more clients don't you think so?

 

[Springtime]

You are doing great already but you need to have a competitive price too. Doing it this way will help you get more clients don't you think so?

Thank you for your advice. I just charge market rate. Lower the price may not help me to get more clients. There may be confidence issue.

 

[Stardom22]

For me I usually calculate my prices according to the cost of the the business operations: including transportation costs, handling and the service charge

 

[Magnus2022]

My price use to be the same with my competitors except when I get the goods at lower price that the normal price. I use to buy from the producers, thereby getting the price cheaper than the wholesalers price.

 

[Golden9]

I try to lower the price, lower than that of my competitors as long as I am not running at a loss. Most entrepreneurs underestimate the importance of having more turnover instead of more profits per sale.

 

[IB D]

Mine is just to make sure that I add NGN300 to my cost of production. That's less than a dollar. It's even less than half a dollar. But that's fine for me.

 

[oldbuddy]

I don't set the price, the website that pays me does that. If they get too carried away I will always have the option to fold my tent and pick another spot.

 

[Suba]

There are many ways or strategies to determine the selling price, but if your business is a start-up business, you should use the strategy below the market average price, as a promotion for your product in the market.

 

[Bisolami]

Every business owner should have a specific pricing strategy on how they fix price on their goods and services. The price should never be too high or too low. What's your price strategy for your business?

Mine will never be too high or low
At the same time, I will sell according to the current price of the product

 

[eldavis]

Mine will never be too high or low
At the same time, I will sell according to the current price of the product

How do you know the current price? Do you take time out to make research on how much others are currently selling?

 

[Shavkat]

It depends how a company will do this. Costing varies from one country to another. As for me, the basic one is to compute all the materials being used plus the labor cost. It can derive the right price for each item in the company.

 

[Reedex]

If you want to attach a particular price to a product it has alot to do with the cost of production.

 

[SHAHID987]

pricing of the product required very deep calculation, like I purchase rice from wholesale market so I set it's selling price that price by considering different factors as how much money I have spend in fuel consumption and others.

 

[nomad]

In the beginning, I sell with a low profit margin. I even try to sell for just the cost price. The idea is to generate early sales and get positive reviews.

 

[Niyi Briggs]

My pricing strategy is to balance the cost of production and price trends in the market to fix my price. That's to enable me make reasonable profits and also be able to restock.