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How to Choose the Right Price for Your Product
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[QUOTE="allison001, post: 256400, member: 40034"] It will definitely depends on the product you are selling , but normally it is always advisable for you to at least take 20% of your production capital as profit when you have created a product . Taking more than that might expose you to difficulties because your competitors will even be looking for ways to overtake you. If the strategy above is not working , then you have to observe what other company with the same product as you are doing . You have to also check the price they are selling it. This will give you a clue of the price you can set for your own product. It is always advisable for you to set price a little bit lower than what the market are selling . This will increase your chance of getting more people to buy from you. Advertisement also is very necessary for your business at a start. [/QUOTE]
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