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Title: HOW POOR PRICING AFFECT THE SUCCESS OF A PRODUCT
Description: Setting prices too low can convey the message to consumers that your product isn't as good as other similar products on the market. While low prices may not earn you greater profits, the more of a product you sell the more profit you make.
Description: Setting prices too low can convey the message to consumers that your product isn't as good as other similar products on the market. While low prices may not earn you greater profits, the more of a product you sell the more profit you make.
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HOW POOR PRICING AFFECT THE SUCCESS OF A PRODUCT
Pricing can influence whether a consumer purchases a product
...
For the buyer, a good price is one that meets or exceeds the
expectations while for the seller, a good price is one that generate sales and lead to the
success of a product
...
Wholesalers and retailers consider many factors when trying to arrive at appropriate
pricing
...
What
matters more is how consumers regard your product
...
Some retailers deliberately price certain products low to get the attention of consumers to
whom they hope to sell other more expensive products
...
While low prices may not earn you greater profits, the more of a product you sell the more
profit you make, that is, your profit is directly proportional to your sales volume
...
Even a highly unique product may not do well on the market if
consumers don't like it
...
Product differentiation is critical, especially if you want to justify a high price
...
Strive to offer high quality and value
at a price comparable to that of the competition and still capture some profit
Title: HOW POOR PRICING AFFECT THE SUCCESS OF A PRODUCT
Description: Setting prices too low can convey the message to consumers that your product isn't as good as other similar products on the market. While low prices may not earn you greater profits, the more of a product you sell the more profit you make.
Description: Setting prices too low can convey the message to consumers that your product isn't as good as other similar products on the market. While low prices may not earn you greater profits, the more of a product you sell the more profit you make.