costs and value perceived by the customer; the variation in input prices; the competition; and the market expectations. "In the baking sector", for example, fluctuations in the price of flour and other ingredients can directly impact profit margins, highlights
To assist entrepreneurs with pricing, the specialist shares five tips based on their successful journey
1. Analyze your costs thoroughly. It is essential to consider all costs involved in production, from raw material to operating expenses. Only with a clear view of these values is it possible to establish a price that covers expenses and provides profit, begins
2. Study the market and competitionUnderstanding competitors' positioning and market trends allows you to adjust your prices competitively, without compromising quality or brand perception, list
3. Consider customer value perceptionThe price should reflect the value that the customer sees in the product. Investing in quality and differentiators justifies higher prices and fosters customer loyalty, say
4. Leverage technology to your advantageFinancial management tools and sales analysis are essential to understand consumer behavior, anticipate seasonal demands and adjust prices strategically. For example, using detailed reports to monitor the impact of price changes can help ensure decisions are based on concrete data, explain
5. Review and adjust prices periodicallyThe market is dynamic, factors such as inflation, costs of inputs and changes in consumer behavior require constant revisions to pricing strategy. Staying up to date is crucial for business sustainability, finalizes
In summary, Implementing a well-founded pricing strategy is at the heart of business success. The main lesson is that pricing should not be based solely on competition or intuition, but rather in a careful cost analysis, added value and brand positioning. Testing different approaches and maintaining constant monitoring are essential practices to keep a profitable and growing business, Marcela Fernandes concludes
