Answered

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what do businesses consider when setting a price for their product

Sagot :

trinity011

Answer

There are several factors a business needs to consider in setting a price

Explanation:

Competitors – a huge impact on pricing decisions. The state of the market for the product – if there is a high demand for the product, but a shortage of supply, then the business can put prices up.

mavenmink
They consider how much profit they will get versus how much they are paying to get the product. Also other companies prices on similar items.
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