operations |
comment | "parent_author":"",<br>"parent_permlink":"costs-s21w5",<br>"author":"max-pro",<br>"permlink":"slc-or-s21w5-or-costos-para-emprendedores-fijacion-de-precios",<br>"title":"SLC | S21W5 | Costos para emprendedores - Fijaci\u00f3n de precios.",<br>"body":"<\/center><div class=\"text-justify\">\n\n<sub>**Hello Everyone \nThis is @max-pro from,<br> #Bangladesh**<\/sub>\n\n![Current,<br> Resistance,<br> and Voltage Education Presentation in Dark Blue Style_20241130_162352_0000.png (https:\/\/cdn.steemitimages.com\/DQmZPsnss7yCosmpyPgGXoYizjNu6odKN3VGu1zKA6a2VwV\/Current,<br>%20Resistance,<br>%20and%20Voltage%20Education%20Presentation%20in%20Dark%20Blue%20Style_20241130_162352_0000.png)Made by canva\n***\nWishing everyone good health. Hope you are all well and healthy. Today I am again here to participate in this wonderful [SLC | S21W5 | Costos para emprendedores - Fijaci\u00f3n de precios (https:\/\/steemit.com\/costs-s21w4\/@yolvijrm\/slc-or-s21w5-or-costos-para-emprendedores-fijacion-de-precios) learning challenge organized by our teaching teacher @yolvijrm. Here I will discuss my opinion in detail by answering some questions. So let's begin.\n\n|What is the importance of the pricing process\n-|\n\nPricing process is the method of determining the price of a product,<br> taking into account factors such as cost,<br> profit,<br> market demand and competitors' prices. Its main objective is to sustain the business,<br> make profit and attract customers.\n\nThe importance of pricing process is mentioned below|![business-man-3157759_1280.jpg (https:\/\/cdn.steemitimages.com\/DQmReDePDhV8589RBP4oPz5LGwwy51J8NeTDv2RFLVivdMY\/business-man-3157759_1280.jpg)[Source (https:\/\/pixabay.com\/es\/illustrations\/hombre-de-negocios-anal%C3%ADtica-seo-3157759\/)\n-|-\n\n* **Ensuring Profitability** : By setting the right price the business can achieve profit while meeting production and operating costs. It ensures survival and growth of the business.\n\n* **Competitive Advantage** : Pricing helps to position the product or service correctly compared to the competitors,<br> which helps to survive in the market.\n\n* **Reflection of Consumer Needs** : Consumers judge and evaluate product quality based on product price. Right pricing helps attract and retain customers.\n\n![step-by-step-6655274_1280.jpg (https:\/\/cdn.steemitimages.com\/DQmQow1Y9dAsNZaLbXhk2qQqnstWFisaAApfkdkbfqArCbn\/step-by-step-6655274_1280.jpg)[Source (https:\/\/pixabay.com\/es\/illustrations\/paso-a-paso-carrera-profesional-6655274\/)\n\nAlignment with market demand|Demand-based pricing helps in pricing according to consumer demand,<br> market trends and affordability.\n-|-\nBuilding Business Reputation|A right pricing policy helps create a positive image for the brand and ensures customer loyalty in the long run.\n\nSo the pricing process is not just a financial activity it is a strategic move that determines the success or failure of the business.\n\n|What aspects should be considered when setting the price of a product or service?\n-|\n\nThere are several aspects that should be considered in determining the price of a product or service. Below I have presented a few points in detail. \n\nProduction cost|Raw material,<br> labor and other direct costs. Fixed costs (rent,<br> salaries) and variable costs (transportation,<br> electricity).\n-|-\nMarket and Competition|Prices of competitors and their strategies also demand and supply of products in the market.\nCustomer Valuation| How much customers value the product and how much they are willing to pay for it.\n\n![step-by-step-9046592_1280.jpg (https:\/\/cdn.steemitimages.com\/DQmen2UYzBQovezD71xgAD135RXtv5E6NLyGN2CrhjgBsTS\/step-by-step-9046592_1280.jpg)[Source (https:\/\/pixabay.com\/es\/illustrations\/paso-a-paso-paso-arco%C3%ADris-escalera-9046592\/)\n\n**Profit target** :- how much profit the business wants to make and ensure return on investment.\n\n**Brand positioning** :- Is the product generic,<br> or premium? Pricing according to brand reputation.\n\n**Laws and Taxes** :- Fixing prices according to tax and government regulations. By considering these aspects,<br> an accurate and effective price can be determined for the product or service.\n\n\n|Provide examples of businesses that fit the pricing methods explained in class,<br> stating your reasons.\n-|\n\n\nA simple example of one of the pricing methods explained in the post above is a small business bakery.\n\n|Cost-Based Pricing Method :-\n-|\n\n* Let's say a person makes and sells cakes in his home. It costs him 200 BDT (raw material,<br> labor,<br> electricity) to make each cake.\n\n* He wants to make 20% profit on every cake sold.\n\n* His selling price will be: 200 + (200 \u00d7 20%) = 240 BDT.\n\n|Demand-based pricing method:-\n-|\n\n* The demand for cakes increases during Eid or Christmas.\n\n* Customers are ready to pay up to BDT 300 for a cake.\n\n* Then he sells the cake at a slightly higher price than the competition,<br> eg: 280-300 BDT.\n\n|Competitive pricing method:-\n-|\n\n* If the price of other bakeries in the market is BDT 250,<br> he will keep his cake price between BDT 240-250 to compete.\n\n* As a result,<br> customers will be interested in buying its product because it is competitive.\n\n|What percentage of profit should be added to a total unit production cost of $25.00 to achieve the desired profitability?\n-|\n\n***We will use the following information to resolve the issue:***\n\n* Information provided :-\n\nInvestment| $130,<br>000\n-|-\nRate of Return| 20%\nSales level|21,<br>000 units\nUnit production cost| $25.00\n\n|Step 1: Determine the desired profit\n-|\n\nDesired Profit = Investment \u00d7 Rate of Return\n= $130,<br>000 \u00d7 20%\n= $26,<br>000\n\n|![IMG_20241130_152915.jpg (https:\/\/cdn.steemitimages.com\/DQmZsEKWjUah6NVRZKnWBQhgK7T7KuH5yvHkHM8nP3JpZ2T\/IMG_20241130_152915.jpg)calculation by @max-pro\n-|\n\n|Step 2: Calculation of profit per unit\n-|\n\nProfit per unit = Desired profit \u00f7 Sales level\n= $26,<br>000 \u00f7 21,<br>000\n= $1.24 (profit per unit)\n\n|![IMG_20241130_153212.jpg (https:\/\/cdn.steemitimages.com\/DQmbc1Wr1yfHKEv6emeqfM1LBU4yXKTLgPjJ42iFPVPZfCR\/IMG_20241130_153212.jpg)calculation by @max-pro\n-|\n\n|Step 3: Calculation of profit percentage\n-|\n\nProfit percentage = (Profit per unit \u00f7 Unit cost of production) \u00d7 100\n= ($1.24 \u00f7 $25.00) \u00d7 100\n= 4.96%\n\n|![IMG_20241130_153515.jpg (https:\/\/cdn.steemitimages.com\/DQmV8MrYDbPgrqb92SpYGAhMKYQQDctNcU5AA7omdhB3qLG\/IMG_20241130_153515.jpg)calculation by @max-pro\n-|\n\n |Final Answer:-\n-|\n\n4.96% profit should be added to achieve the desired profit.\n\n|At what price should it be launched in the domestic market\n-|\n\nSelling price to the domestic market is calculated,<br> which is calculated by adding the profit per unit to the cost of production.\n\n* Information provided:\n\nUnit production cost|$25.00\n-|-\nProfit per unit|$1.24 (as per previous calculation)\n\n***Determination of selling price:***\n\nSelling price = unit production cost + profit per unit\n= $25.00 + $1.24\n= $26.24\n\n|![IMG_20241130_154413.jpg (https:\/\/cdn.steemitimages.com\/DQmbAgfusK61xBhpmjn7i415Dm88Dc2qghz48Au5R8uDMzz\/IMG_20241130_154413.jpg)calculation by @max-pro\n-|\n\nAnswer| The domestic market will go for a price of $26.24.\n-|-\n\n|If the competition has a price of $28.00 for a product with similar characteristics,<br> would it be possible to compete?\n-|\n\nThe probability of competing should be analyzed by comparing the competition price and the Steemian company's calculated price.\n\nThe calculated value of Steemian Company is| $26.24\n-|-\ncompetition Price|$28.00\n\n* **Analysis :-**\n\nThe Steemian company's calculated selling price is lower than the competition's price ($28.00 - $26.24 = $1.76 less).\n\nSo the price calculated by Steemian Company is $1.76 less than the competitor price. Providing products at these low prices will provide a competitive advantage in the market.\n\nAs the Steemian company's calculated price products are of similar features,<br> customers will be interested in buying the product at a lower price.\n\n|Final Answer :-\n-|\n \nYes,<br> it would be possible to compete in the market by selling at a price of $26.24 compared to the competition. It is also profitable and attractive to customers at the same time.\n\nThe pricing process is an important strategic step for a business. This is crucial not only for profit and cost recovery but also for staying competitive and attracting customers. The examples and analysis shown in this post show how even a small business can achieve its goals by applying the right pricing strategy. So a proper and well-planned pricing process is key to the success of any business. So I am very happy to participate in this contest.\n\n![RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2YizWKisb3ZgsDxdv6CTVGYgHtwpKhTdMCi2tSid3UCJBnCajV5w8WAgFNVUFh6ZE8SvQ3J1Kx5gvQbfo4.png (https:\/\/cdn.steemitimages.com\/DQmVVSPBa5Y1aPXEJAb6vayhmUvFFBamSDJ55cwMaMKUEXV\/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2YizWKisb3ZgsDxdv6CTVGYgHtwpKhTdMCi2tSid3UCJBnCajV5w8WAgFNVUFh6ZE8SvQ3J1Kx5gvQbfo4.png)\n\nSo I am Inviting my lovely Steemian friends @sushanta83,<br> @kouba01,<br> @selina1 to Participate in this Competition.\n\n![20221121_100847.gif (https:\/\/cdn.steemitimages.com\/DQmXrSdnUgLihNkYEabftbyGToKKF9skJV3qJehfD2Aa3bQ\/20221121_100847.gif)\n\n\n<\/div>",<br>"json_metadata":" \"tags\":[\"costs-s21w5\",<br>\"burnsteem25\",<br>\"steemexclusive\",<br>\"club5050\",<br>\"pricing\",<br>\"bangladesh\" ,<br>\"users\":[\"max-pro\",<br>\"yolvijrm\",<br>\"sushanta83\",<br>\"kouba01\",<br>\"selina1\" ,<br>\"image\":[\"https:\/\/cdn.steemitimages.com\/DQmZPsnss7yCosmpyPgGXoYizjNu6odKN3VGu1zKA6a2VwV\/Current,<br>%20Resistance,<br>%20and%20Voltage%20Education%20Presentation%20in%20Dark%20Blue%20Style_20241130_162352_0000.png\",<br>\"https:\/\/cdn.steemitimages.com\/DQmReDePDhV8589RBP4oPz5LGwwy51J8NeTDv2RFLVivdMY\/business-man-3157759_1280.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmQow1Y9dAsNZaLbXhk2qQqnstWFisaAApfkdkbfqArCbn\/step-by-step-6655274_1280.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmen2UYzBQovezD71xgAD135RXtv5E6NLyGN2CrhjgBsTS\/step-by-step-9046592_1280.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmZsEKWjUah6NVRZKnWBQhgK7T7KuH5yvHkHM8nP3JpZ2T\/IMG_20241130_152915.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmbc1Wr1yfHKEv6emeqfM1LBU4yXKTLgPjJ42iFPVPZfCR\/IMG_20241130_153212.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmV8MrYDbPgrqb92SpYGAhMKYQQDctNcU5AA7omdhB3qLG\/IMG_20241130_153515.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmbAgfusK61xBhpmjn7i415Dm88Dc2qghz48Au5R8uDMzz\/IMG_20241130_154413.jpg\",<br>\"https:\/\/cdn.steemitimages.com\/DQmVVSPBa5Y1aPXEJAb6vayhmUvFFBamSDJ55cwMaMKUEXV\/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2YizWKisb3ZgsDxdv6CTVGYgHtwpKhTdMCi2tSid3UCJBnCajV5w8WAgFNVUFh6ZE8SvQ3J1Kx5gvQbfo4.png\",<br>\"https:\/\/cdn.steemitimages.com\/DQmXrSdnUgLihNkYEabftbyGToKKF9skJV3qJehfD2Aa3bQ\/20221121_100847.gif\" ,<br>\"links\":[\"https:\/\/steemit.com\/costs-s21w4\/@yolvijrm\/slc-or-s21w5-or-costos-para-emprendedores-fijacion-de-precios\",<br>\"https:\/\/pixabay.com\/es\/illustrations\/hombre-de-negocios-anal%C3%ADtica-seo-3157759\/\",<br>\"https:\/\/pixabay.com\/es\/illustrations\/paso-a-paso-carrera-profesional-6655274\/\",<br>\"https:\/\/pixabay.com\/es\/illustrations\/paso-a-paso-paso-arco%C3%ADris-escalera-9046592\/\" ,<br>\"app\":\"steemit\/0.2\",<br>\"format\":\"markdown\" " | comment_options | "author":"max-pro", "permlink":"slc-or-s21w5-or-costos-para-emprendedores-fijacion-de-precios", "max_accepted_payout":"1000000.000 SBD", "percent_steem_dollars":10000, "allow_votes":true, "allow_curation_rewards":true, "extensions":[[0, "beneficiaries":[ "account":"null", "weight":2500 |
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