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