daisywebster daisywebster

03-03-2021
Business

contestada

what do businesses consider when setting a price for their product

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trinity011 trinity011

03-03-2021

Answer

There are several factors a business needs to consider in setting a price

Explanation:

Competitors – a huge impact on pricing decisions. The state of the market for the product – if there is a high demand for the product, but a shortage of supply, then the business can put prices up.

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mavenmink mavenmink

03-03-2021

They consider how much profit they will get versus how much they are paying to get the product. Also other companies prices on similar items.

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