Respuesta :
Product costs are the expenses incurred to produce a product.It is one of the key elements that determines a product's price.
The following are the top six price-influencing factors:
1. Product Cost: The total of all fixed costs, variable costs, and semi-variable costs incurred during the manufacture, distribution, and sale of the product is referred to as the product cost.
2. The Utility and Demand: When a product's price is low, consumers will purchase more of it, and the opposite is true.
3. The level of market competition: If there is little competition, a company can set any price for its product.
4. Government and Legal Requirements:
Monopoly-holding companies typically charge high prices for their goods.
5. Pricing Objectives: If a company is struggling to survive and is unable to compete, it may turn to free offers, discounts, or even try to liquidate its stock at BOP (Best Obtainable Price).
6. Marketing Techniques: The price of a product is influenced by a variety of marketing techniques, including the distribution system, the calibre of salespeople, advertising, type of packaging, customer service, etc.
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