National 5: Business Management: what factors affect the setting of a products price?

Question

what factors affect the setting of a products price?

Marilyn Bob-Manuel 3ekt · Accepted Answer

production cost
how much profit the business wishes to make
what competitors are charging
whether the product has a strong brand
whether the product is perceived to be of a high quality
the stage in the products life cycle

National 5: Business Management

What factors affect the setting of a products price?

Production cost how much profit the business wishes to make what competitors are charging whether the product has a strong brand whether the product is perceived to be of a high quality the stage in the products life cycle

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