costs and value perceived by the customer; the variation in input prices; competition; and market expectations. “In the baking sector, for example, the oscillation in the price of flour and other ingredients can directly impact the profit margin”, he highlights.
To assist entrepreneurs in the pricing task, the expert shares five tips based on their success trajectory:
1. Analyze your costs in detail. “It is essential to consider all the costs involved in production, from raw materials to operating expenses. Only with a clear view of these values is it possible to establish a price that covers expenses and provides a profit”, he begins.
2. Study the market and competition. Understanding the positioning of competitors and market trends allows you to adjust your prices competitively, without compromising the quality or perception of the” brand, he says.
3. Consider customer value perception. “O price should reflect the value that the customer sees in the product. Investing in quality and differentials justifies higher prices and loyalty to the” target audience, he says.
4. Use technology to your advantage. “Financial management tools and sales analytics are critical to understanding consumer behavior, predicting seasonal demands, and adjusting prices strategically.For example, using detailed reports to monitor the impact of price changes can help ensure decisions are based on concrete” data, he explains.
5. Review and adjust prices periodically. “The market is dynamic, and factors such as inflation, input costs and changes in consumer behavior require constant revisions in pricing strategy.Keeping up to date is crucial to the sustainability of the” business.
In short, 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 on careful analysis of costs, added value and brand positioning.Testing different approaches and maintaining constant monitoring are essential practices for maintaining a profitable and growing business”, concludes Marcela Fernandes.