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Pricing Strategy Setting a price is one of the more challenging tasks How does one know how much a pound of tomatoes or a head of lettuce is worth On what information are these pricing decisions based In general prices are set by production and marketing costs at the lower end while the upper limit is set by what your customers are willing to pay how much competition you have and your own desired profits It pays to figure your costs and set your prices accordingly rather than just going by what others are charging steady consistent prices encourage steady consistent customers Knowing your costs of production both fixed and variable is the first step in pricing strategy Keeping good records for each item that you produce allows you to evaluate the profitability of each item in your product mix Variable costs refer to costs directly associated with that item Pricing for wholesales is determined on the quantity purchased It is beneficial for our clients to give price-break for wholesales that buy large quantities We suggest that if a retail store can save money by purchasing additional product in their store a majority of these retailers will purchase more and keep the stock in their stores The goal is to suggest that if they buy more they can save on cost Parker-Clark VJ 1992 Marketing Your Product Directly To Consumers According to our research over 50 of American meals are now eaten away from home This would appear to be a growing market for Frozen food Products In order for our product to grow in market share the best pricing strategy to focus on is market penetration pricing The lower the market penetration is the higher the buyers are and the larger the market share is Through our primary research most consumers said that they would be willing to pay anywhere from 3500- 4000 each for both Lemon Raspberry Cheesecake and Chocolate
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