- Description
- Specifications
This paper analyses how a retail business should go about setting prices. It closely examines customers' perceptions on prices and considers the gross profit rate that the business can achieve. The material also includes a Mark Up/Gross Profit Chart to show the comparison between a particular mark up and what the equivalent gross profit percentage is on sales.
The paper includes comments on:
- Price Setting Is A Difficult Step
- Pricing Can Determine Profit Or Loss
- Pricing Fallacies
- What Is Your Customer's Cost?
- Why Do Your Customers Buy?
- Competitors' Intelligence Files
- Customer Decision Process
- Understand Customers' Perception On Pricing
- What Are The Business's Overheads?
- Customers' Perception On Prices
- Mark Up/Gross Profit
- Sales Statistics
- Equivalent Of Mark Up Percentage To Gross Profit Percentage Chart
- Targeted Net Profit
- Determining Gross Profit Required
- Affect Of Gross Profit Percentage In Determining Sales Figure
- Proof Of Gross Profit
- Mix On Purchases And Mark Up % And Therefore Sales - What Effect On Profitability?