Question
Determine risks associated with your pricing objectives on objects in your tech company 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
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
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
Select one of your products or services and add it to the worksheet under Product or Service
Continue across the row to fill in the cost of goods, cost of sales, markup, product price, and discount for each product or service listed Add at least two products or services.
Cost of Goods. This is the amount of money you'll spend to get your product ready for sale. including the cost of materials, labor, and even the cost to dispose of waste from the manufacturing process
Cost of Sales This is the amount of money you'll spend to market and sell your product or service
Markup This is the fixed amount or percentage you plan to add for profit, in addition to the COSTS
Product Price Based on the pricing factors you identified in the previous step, either add or multiply the markup to the total costs to calculate your product price Note whether this is the wholesale or final retail price and list both if appropriate
Discount Consider the fact that you will likely want to offer a discount at some point, whether your product is priced for the wholesale or retail market in the final column apply a percent or fored dollar discount to your product price
• 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
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
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
Select one of your products or services and add it to the worksheet under Product or Service
Continue across the row to fill in the cost of goods, cost of sales, markup, product price, and discount for each product or service listed Add at least two products or services.
Cost of Goods. This is the amount of money you'll spend to get your product ready for sale. including the cost of materials, labor, and even the cost to dispose of waste from the manufacturing process
Cost of Sales This is the amount of money you'll spend to market and sell your product or service
Markup This is the fixed amount or percentage you plan to add for profit, in addition to the COSTS
Product Price Based on the pricing factors you identified in the previous step, either add or multiply the markup to the total costs to calculate your product price Note whether this is the wholesale or final retail price and list both if appropriate
Discount Consider the fact that you will likely want to offer a discount at some point, whether your product is priced for the wholesale or retail market in the final column apply a percent or fored dollar discount to your product price
Answers
Answer
All European countries
Answer
List all of the European counteies
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