Four Things To Consider Before Putting Up Your Price Tag
Most business owners get into business to make money, profit-seeking business owners welcome cost-based pricing for its straightforward path to calculating profit. All they need to focus on is targeting a sales price that is a markup over cost. Some business owners, however, possess a price sensitivity that leads them to assume their customers share in that trait. Combining price sensitivity with a desperate need to succeed, lead some to the misconception that they need to charge just enough to turn a profit. In either case, the problem is: there is more to pricing than just cost.
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