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Setting the Appropriate Price for Your Goods
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[QUOTE="Carpon, post: 266385, member: 86701"] To set a price for your goods, products and services, you must use skill as that will be a pointer to the level of patronage your business will attract. You must first be able to make surveys and know the price that other people selling the same kind of goods you will sell, charge for their goods. Then consider the rate or price at which you purchased your own good. After ascertaining all these things you will compare the price others sell and the one at which you made your purchase and see the profit margin. If it is relatively low you may need to place a higher price on your goods and if a bit high, you must try to out a lower price as this will also help attract more buyers due to the discount you have places on your goods. Even the smallest reduction in price of a good will help you attract more patronage. [/QUOTE]
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Setting the Appropriate Price for Your Goods
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