(1) Cost. Product development, manufacturing, storage, raw materials, transportation, and other costs directly determine product pricing.

(2) Expected profit. After the cost is determined, the company may also have a fixed percentage of expected profits, such as 10%, 15%, and so on.

(3) Capital turnover. If you need corporate capital turnover, you have to set the price at the most attractive level for users. At the most attractive price level, profits are not necessarily the biggest.

What are the factors affecting the price of Fiberglass sculpture

What are the factors affecting the price of Fiberglass sculpture

(4) Supply and demand situation. With strong market demand, product prices can fluctuate accordingly. A large number of products are unsalable, and prices have to fall.

(5) Competitor price. As information flows become more transparent, especially on the Internet, price comparisons are a breeze, and the price of competitors also largely affects the pricing of the company itself.

(6) Brand image. When a company or brand is focused on the high-end market, the price and cost may be largely irrelevant when providing the highest level of product or service. Lower prices may even reduce brand image and sales.

(7) Promotion strategy. Various forms of promotion, discounts, and the combination of benefits will affect the final pricing of the product.