CLASS: 12 (HOW TO DECIDE THE PRICE (Add profit, Its up to you add welfare…
HOW TO DECIDE THE PRICE
Its up to you add welfare percentage or not
Then we get per unit cost
WHEN YOU DECIDE PRICING MUST CONSIDER
How to compete your competitor?
through quality or price?
Example; if you constructing your house floor you must consider quality products.
Must consider your target class
GENERAL METHOD OF COSTING
Focus on community impact
Focus on target class
Example: Maria B. is an example of class based costing
If you meet quality feature Vs. price feature you grape the market.
Compare with price.
Compare with profit
Compare with product quality
you not create discrimination in the society sometime you can pay for your pocket.
Few percentage of your earning can donate
Costing → Pricing → Profit →where we invest your profit.
Your product is welfare based or profit based?
Should be negative or positive?
negative if your product link with drugs
Product role for society
Pricing are associated with society
1% of profit must donate