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This costing statement has identified that my average total cost is £14.55. If I use cost-plus pricing which is basing the price of a production on the cost of producing it plus an allowance for profit I will then have to add a mark up
Member rating: No Rating | Words: | Submitted: Mon Jan 16 2006
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PRICING Price is one of the main factors consumers take into account when they decide to buy a product. This means that price is a very important part of the marketing mix. My firm will have to be very careful when deciding at what price to sell our product. It price is too high consumers do not buy the product, if it is too low my company may not make any profits. Another important part of my firm's financial balance is identifying fixed and variable costs. Fixed costs: Fixed costs are those costs or expenses that are expected to remain fairly constant over a reasonable period of time. These costs are relatively unaffected by changes in output or sales. Variable costs: Variable costs are those costs or expenses that vary or change directly with output. These costs are associated with production and/or selling and are frequently identified as "costs of goods sold." As...
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