Product: Skin & hair friendly pillowcase
How do you determine the pricing for your product?
Determine the type of pricing that suitable for your product:
- Promotional pricing (temporary markdown)
- Premium pricing
to attract customers
increase demand
a new product with specific competitive advantages over competitors
a higher quality product
to give the impression that the products must be more valuable
build customer loyalty
Doing a market research
Calculate production cost
Analyze competitor's pricing strategy
Compare price with competitors
Variable Cost
Fixed Cost
Raw Materials
Primary Packaging
Secondary Packaging
Store Rent
Website Maintenance
Warehouse
Labor
Shipping Distribution
Research & Development