lucille
- captive product pricing
- competitive pricing
- May 1, 2025
- 0 Comments
Price Your Products to Win A New Approach
Understanding Your Costs: The Foundation of Profitable Pricing
Before you even think about what your customers might pay, you need a crystal-clear picture of your costs. This isn’t just about the raw materials; it encompasses everything from manufacturing or production expenses, to marketing and advertising, salaries, rent, and even the cost of your time. Be thorough! Include every expense, big and small, to get an accurate understanding of your cost per unit. Don’t forget to factor in potential seasonal fluctuations or increases in the cost of materials. A realistic cost analysis is the cornerstone of smart pricing.
