Customers want a fair price when purchasing a product or service. Usually, low prices will draw in many customers, although people ultimately want value for money. It is important for a price to match the quality of the product or service that the business is selling.
Answers & Comments
Answer:
Customers want a fair price when purchasing a product or service. Usually, low prices will draw in many customers, although people ultimately want value for money. It is important for a price to match the quality of the product or service that the business is selling.
Explanation:
Total Cost Price = Variable Cost of the Product + (( Overhead Expenses + Administrative costs) /Number of Units )
Wholesale Price = Total Cost Price + Profit Margin.