Chapter Six. What Is the Right Price for Your Product or Service?
Why is price important?
</objective> <objective>Profit = Sales Price – Costs
</objective> <objective>Variable costs and fixed costs
</objective> <objective>Cost plus pricing or competitive pricing
</objective> <objective>Break-even: How do you cover your costs?
</objective> <objective>The use of payment terms, discounts, guarantees, and sales
</objective> </feature>The price you pick for your product and/or service is one of the most important factors in building a successful business. The price you pick impacts
Whether customers will buy your product
The positioning of your product against your competition
Your business’s profitability
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