Description
Pricing strategies for products and services vary across industries and are influenced by myriad elements ranging from factors such as the value of the products/services, production costs, the type of products/services offered, as well as operational costs among others. It is important to ensure that the applied pricing strategy is aligned with your business and the market within which you operate. When putting in place a pricing strategy for your business, it is essential to conduct extensive market and competitor research in terms of pricing in order to avoid over pricing or under pricing your products/services compared to the rates offered in the market. This “Determining Costs And Pricing For Your Products” Checklist offers some reference points for determining costs and pricing for your business.
