Post by account_disabled on Nov 21, 2023 22:13:55 GMT -6
Initially setting lower prices proves effective, although this is rather short-lived. Price and demand The demand for your services is determined, among other things, by the prices you set. The exception is when your product is unique in some way or it is difficult to find a substitute for it. Distribution channels As a result of product distribution, you receive a profit, but you also incur costs. When developing a pricing strategy, you must take into account the fees for the processes carried out in order to maintain high profitability of the company. Laws and regulations.
The Act on Competition and Consumer Protection expressly prohibits all unfair practices related to pricing strategy. Any business philippines photo editor entity violating these regulations must face legal sanctions. Prohibited activities include: Excessively lowering or raising prices; Price discrimination – occurs when a company sells the same product at different prices, depending on the selected market segment; Price fixing - collusion between entities in the same industry to buy or sell goods or services at a fixed price; Dumping – occurs when a manufacturer sells its goods at a price that is lower than the production costs or sells exported products at a lower price than on the domestic market. Internal factors.
The decision to choose a pricing strategy to be: Organizational goals The pricing strategy is set in such a way as to achieve the company's organizational goals - the main one being making profits. It can also have an image-building function. Costs In running a business, we deal with fixed and variable costs, the sum of which should not exceed income. Otherwise, it proves that the project is unprofitable. Your pricing strategy must take this aspect into account so that your profits can cover your expenses.
The Act on Competition and Consumer Protection expressly prohibits all unfair practices related to pricing strategy. Any business philippines photo editor entity violating these regulations must face legal sanctions. Prohibited activities include: Excessively lowering or raising prices; Price discrimination – occurs when a company sells the same product at different prices, depending on the selected market segment; Price fixing - collusion between entities in the same industry to buy or sell goods or services at a fixed price; Dumping – occurs when a manufacturer sells its goods at a price that is lower than the production costs or sells exported products at a lower price than on the domestic market. Internal factors.
The decision to choose a pricing strategy to be: Organizational goals The pricing strategy is set in such a way as to achieve the company's organizational goals - the main one being making profits. It can also have an image-building function. Costs In running a business, we deal with fixed and variable costs, the sum of which should not exceed income. Otherwise, it proves that the project is unprofitable. Your pricing strategy must take this aspect into account so that your profits can cover your expenses.