Lens1000
VIP Contributor
The price of product is very crucial to any kind of business and that is why it is important to put into concentration certain factors that is involved in pricing.
Understanding the cost of production is also very important if you want to set a pricing model. Puting into consideration the direct cost like materials and labor as well as also considering the indirect cost like overhead expenses is crucial.
Conducting market research play a significant role in pricing model as well when you analyze competitors price, customer preference and you also take into concentration market demands. it issues essential in setting a competitive price..
Understanding the cost of production is also very important if you want to set a pricing model. Puting into consideration the direct cost like materials and labor as well as also considering the indirect cost like overhead expenses is crucial.
Conducting market research play a significant role in pricing model as well when you analyze competitors price, customer preference and you also take into concentration market demands. it issues essential in setting a competitive price..