Question

In setting a product's , a business needs to take into account the costs of producing, distributing, and promoting the product as well as a profit margin.

Answer 1

When setting the price of a product, a company needs to take into account the costs of producing, distributing and promoting the product, as well as a profit margin.

How to set the product price correctly?

It is essential that the company align its needs and objectives with the characteristics of the market and its business, in order to define a compatible and competitive price. It is essential to analyze income and expenses to establish an optimal balance in the pricing process, revising the strategy whenever necessary.

Therefore, it is essential that pricing is aligned to the market, to the fixed and variable costs of the business, considering its needs and goals for the business to be well positioned in the market.

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