Question

Step 1: Identify Pricing Risk Factors
Determine risks associated with your pricing objectives. Look at how the price is affected by:
supply and demand
the competition
economic conditions
government regulations
How does the target market itself affect your pricing?
Open a document and title it Pricing.
Create a heading on the document and label it Risk Factors.
Write four to five sentences that describe your product in relation to each of the specific risk factors.
Step 2: Determine Your Pricing Objective(s)
Determine your pricing objective. Note that you can choose to maximize sales, profits, market share, or simply to cover your costs and earn a modest profit.
Create a second heading on the document and label it Pricing Objectives.
Write your pricing objective in one or two sentences. Note that you may decide to optimize on more than one objective at the same time.
Step 3: List the Pricing Factors and Calculate
Open a spreadsheet and title it Pricing Worksheet.
Create five columns with the following headings:
Product/Service
Cost of Goods
Cost of Sales
Markup
Product Price
Discount

for a doggy daycare