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       #Post#: 27--------------------------------------------------
       The product is transformed
       By: SK Rubina Rubi Date: September 14, 2023, 5:06 am
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       When working with a specific market niche, the company can work,
       in a certain way, with aspects of the previous strategies,
       because by targeting its products/services, it can work on
       better prices with suppliers, further customize its products to
       meet specific needs. of customers. Cost X Value X Competition To
       determine the price of your product, you must know its cost,
       value and competition. Cost You need to be clear about how much
       it costs to produce your product. Prefer variable prices, as
       this makes the sales scale favorable to your type of business.
       If you work with a fixed cost, you won't be able to scale. Value
       Value involves more than price.
       An example of this is coffee. The coffee bean itself is a
       commodity. Once processed and packaged, it becomes a product.
       Then,  into a service, that is, the Phone Number List
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       coffee is made and delivered in a
       beautiful cup to be enjoyed and then we have coffee shops that
       deliver an experience: a welcoming, comfortable environment,
       with Wi-Fi and charge a fee much bigger. Try to turn your
       product into an experience. You will give more value to your
       customer and the pricing may be higher.
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       Competition Competition makes you better today, tomorrow and
       always. However, it commoditizes everything, making the customer
       unable to perceive the differences. Therefore, the biggest
       challenge is to balance the price with the sales volume to
       increase the company's average ticket. High price reduces sales?
       Yes, and there is no magic formula for this. You will need to
       test a lot, learn, do more testing, learn some more, and
       continually go through this cycle to find out how much you can
       charge for your product.
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