The inter-relation between a business product, it price and it place.

[TOZZIBLINKZ]

It is definitely very important that we understand the relationship existing between a business product , price , and place . When a business owner fully understands this commentary factor of business it is assumed that his business will absolutely yield something productive and rewarding . Talking about the business product a business owner must first of all during the initial stage of establishing his business first of all ask him yourself what I'm I going to sell or what am I going to render . If his business is going to be a service-providing one he must make sure that his business service has the ability to impact members of the public and that can only be made available if his business service is of importance and benefits to members of the public . Same also applies if the business deals on the selling of a particular product or commodity .

Moving on the price of his business products and services must be of a relatively variable cost so that members of the public and absolutely patronize his or her business . If you live in an estate or in an area occupied by Rich and wealthy individuals who may have the possibility to increase the price of the commodities but if you live in the area occupied by poor and minimal income earners it is absolutely unavoidable to unnecessarily increase the price of your commodities or services that you sell or render . Finally your business place . The place of a particular business is totally determined by what the business does . If your business is absolutely a buy-and-sell I'm kind it is advisable to situate it in an area with high population because is it as him that the highest population the higher the potential of a business to make profit and income . But if the business is probably on the sector of Agriculture maybe the rearing of farm animals and the planting of farm crops . It may not be advisable to situated in an area contained with individuals .

 

[CALVINDOL]

There is absolutely a relationship or a cordial alignment between a business products and a price and also replacing that the business is actually established . If you intend to establish a business in a rural area possibly field with low income minimal earners making up members of the public and also making up your clients and competitors it is advice that you make a product that is totally not increased more expensive in cost because if you are product is totally expensive possibilities and you will not make any profit and the worst case scenario is that your business may go bankrupt or even shut down as a result of not making profit as wanted or expected .

Finally the place in which year established products totally determine the kind of product that you will sell . Let's us still use the example of the rural area and if you intend to establish a business in a rural area you must make sure that the products you intend to establish in such areas should be a pressing need to members of the public making of the rural area . For example if you establish a pure water industry in a rural area it's not that could be beneficial at first but yet you may come to find out that individuals making of the rural area do not drink sachet water but rather they get their water from streams , rivers , and lakes . .