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When setting an initial price point for a product, several factors should be considered. These include the cost of production, market demand, competition, target audience, and the perceived value of the product. It's also important to consider the company's overall business strategy and goals.
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To begin, first enter the name of the cell phone under the Price Analysis section of the Field tab, along with an initial price point to analyze. Then enter the total fixed cost for the business, which is the total amount of money a business must pay to keep their operations running regardless of how many products they make or sell.
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Need to evaluate the best pricing strategy for a product? This Pricing Strategy spreadsheet includes the top pricing tools to evaluate cost, feature, ...
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