Определение критической цены на продукцию, работы, услуги
Определение критической суммы постоянных затрат, переменных расходов на единицу продукции и критического уровня цены реализации
а) цена реализации изделия, переменные затраты на единицу продукции, постоянные затраты; Согласно постановлению правительства № 926 от 02.09.2015, утверждены общие правила определения требований к закупаемым заказчиками товарам, работам, услугам (ТРУ). На основании этого акта Министерства, администрации субъектов РФ, а также муниципальных образований разрабатывают следующие документы в пределах своих полномочий:
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Суть расчета критического уровня постоянных затрат состоит в том, чтобы определить максимально допустимую величину постоянных расходов, которая будет равна маржинальной прибыли при заданном (возможном) объеме продаж, цены и уровня удельных переменных затрат. При такой критической сумме постоянных затрат организация не будет иметь прибыли, но не будет и в убытке. Если же постоянные затраты окажутся выше критической суммы, то в сложившейся ситуации будет невозможным покрыть данные затраты за счет маржинальной прибыли.
Критический уровень постоянных затрат можно рассчитать следующим образом:
или .
Чтобы определить, за сколько месяцев окупятся постоянные затраты отчетного периода, необходимо определить срок их окупаемости:
.
Критический уровень удельных переменных затрат (bкр) при заданном объеме продаж, цене и сумме постоянных затрат определяется следующим образом:
.
Критический уровень цены (pкр) при заданном объеме продаж, удельных переменных затрат и сумме постоянных затрат можно рассчитать следующим образом:
.
При таком уровне цена будет равна полной себестоимости единицы продукции, а прибыль и рентабельность – нулю. Установление цены ниже этого уровня невыгодно для организации, так как будет получен убыток.
Вопросы для самопроверки по теме 2.7
1. Что представляет собой маржинальная прибыль?
2. Какие факторы влияют на прибыль от реализации определенного вида продукции с точки зрения маржинального анализа?
3. Какие факторы влияют на прибыль от реализации продукции с точки зрения маржинального анализа?
4. От каких факторов зависит рентабельность изделия по международным стандартам?
5. Какие факторы влияют на уровень рентабельности затрат в целом по организации?
6. В чем заключается преимущество методики маржинального анализа финансовых результатов?
7. В чем заключается суть расчета критического уровня постоянных затрат?
8. Как определить критический уровень постоянных затрат?
9. Как рассчитывается и что отражает срок окупаемости постоянных затрат?
10. Как определить критический уровень удельных переменных затрат?
11. Как определить критический уровень цены изделия?
2.7.5 Типовые вопросы-тесты по теме 2.7
1. Что такое маржинальная прибыль:
а) прибыль в сумме с переменными затратами;
б) прибыль в сумме с постоянными затратами;
в) разность между прибылью и постоянными затратами;
г) разность между выручкой и всеми затратами;
2. Как определить маржинальную прибыль:
а) это разность между выручкой от реализации продукции, товаров, работ и услуг и постоянными затратами, приходящимися на реализованную продукцию;
б) это разность между выручкой от реализации продукции и ее полной себестоимостью;
в) это разность между выручкой от реализации продукции, товаров, работ и услуг и переменными затратами, приходящимися на реализованную продукцию;
г) все ответы правильные.
3. Какие факторы влияют на рентабельность изделия по международным стандартам:
б) объем реализации изделия, цена его реализации, переменные затраты на единицу продукции;
в) объем реализации изделия, цена его реализации, переменные затраты на единицу продукции, постоянные затраты;
г) объем реализации изделия, цена его реализации, постоянные затраты.
4. Какие факторы влияют на прибыль от реализации продукции с точки зрения маржинального анализа:
а) объем реализованной продукции, структура реализованной продукции, цена реализации, удельные переменные затраты и постоянные затраты;
б) объем реализованной продукции, цена реализации, удельные переменные затраты и постоянные затраты;
в) объем реализованной продукции, структура реализованной продукции, цена реализации, постоянные затраты.
Предельные цены товаров работ услуг в 2020 году
Автор: Черданцева Татьяна 25 июня 2020
Предельные цены на товары — это законодательные ограничения к закупаемой по 44-ФЗ, в том числе и максимально возможной ее стоимость. Из статье узнаете какие существуют требования к предельным ценам отдельных видов товаров, работ, услуг, и приведем примеры.
Общие правила определения предельной стоимости
- собственные правила определения критериев, т. е. как установить требования;
- требования к характеристикам ТРУ, т. е. ведомственный перечень, уже содержащий набор конкретных характеристик.
В ведомственном перечне, помимо потребительских свойств закупаемой продукции, должна отображаться предельная цена товара — это максимально допустимый размер начальной цены, устанавливаемый заказчиком при проведении торгов или закупке у единственного поставщика.
Данное государственное регулирование направлено на соблюдение принципа эффективного расходования бюджетных средств, недопущение покупки ТРУ с избыточными потребительскими свойствами (функциональными, эргономическими, эстетическими, технологическими и др., значения которых не обусловлены их пригодностью для эксплуатации и потребления).
Требования к предельной стоимости
На федеральном уровне, согласно Постановлению правительства от 02.09.2015 № 927, утвержден обязательный перечень требований, касающийся следующих групп товаров:
- компьютеры и иная электронная и вычислительная техника, офисные приложения;
- мобильные телефоны и услуги мобильной связи;
- автотранспортные средства и услуги по аренде автомобилей;
- мебель;
- услуги по предоставлению доступа в Интернет;
- средства обеспечения информационной безопасности и др.
Высшие исполнительные органы государственной власти субъектов РФ, местные администрации муниципальных образований обязаны включать в перечни своего публично-правового образования все ТРУ, вошедшие в обязательный перечень (п. 10 Правил от 02.09.2015 № 926).
Каждая группа ТРУ должна отражать следующие характеристики:
- свойства закупаемых ТРУ, как количественные, так и качественные, выраженные в виде значения, диапазона значений или запрета на применение конкретных характеристик;
- предельные цены товаров, работ, услуг в рублях в абсолютном денежном выражении (с точностью до 2-го знака после запятой).
Критерием при установлении верхнего порога в стоимости является катег
8.3. Методы определения цен
Теоретические модели ценообразования базируются на том, что основное назначение цены – обеспечить бесперебойную выручку от реализации товаров и услуг. В группе затратных теорий образования цены выделяются: теория предельных издержек, теория полных издержек, микроэкономическая теория цены, эвристические методы установления цен.
Основные факторы, влияющие на уровень цен:
спрос на продукцию;
государственное регулирование цен;
издержки по производству и реализации продукции;
конкуренция;
другие факторы.
Основные методы установления цен на товары и услуги
Различают затратные и параметрические методы ценообразования.
Затратные методы ценообразования основаны преимущественно на учете затрат на производство и реализацию продукции. К затратным методам ценообразования относятся:
метод полных издержек;
метод стандартных издержек;
метод прямых издержек.
Метод полных издержек — это способ формирования цен на основе всех затрат, которые списываются на единицу того или иного изделия и к которым добавляется необходимая фирме прибыль. Метод применяется предприятиями, положение которых близко к монопольному и сбыт продукции которых практически гарантирован.
Метод стандартных издержек позволяет формировать цены на основе расчета затрат по нормам с учетом отклонений фактических затрат от нормативных. Его преимущество состоит в возможности управления затратами по отклонениям от норм, а не по их общей величине. Метод обеспечивает непрерывное сопоставление затрат. Наиболее сложным элементом системы стандартных издержек является определение стандартов затрат.
Метод прямых издержек — это способ формирования цен на основе определения прямых затрат исходя из конъюнктуры рынка, ожидаемых цен продажи. Практически все условно-переменные затраты зависят от объема выпускаемой продукции и рассматриваются как прямые. Остальные затраты (косвенные) относятся на финансовые результаты. Поэтому данный метод называют также методом формирования цен по сокращенным затратам.
Разновидностью ценового метода прямых издержек является метод стандартных прямых издержек, совмещающий преимущества методов стандартных и прямых издержек.
Параметрические методы ценообразованияоснованы на учете технико-экономических параметров товаров. К параметрическим методам ценообразования относятся:
метод удельной цены;
метод баллов;
метод регрессии.
Метод удельной цены основан на формировании цен по одному из главных параметров качества товара. Удельная цена рассчитывается как частное отделения цены на основной параметр качества товара. Этот метод используется лишь для ориентировочных оценок во избежание грубых ошибок.
Метод баллов заключается в использовании экспертных оценок значимости параметров товаров. Практическое использование балльного метода при определении конкретных цен осуществляется по следующему алгоритму: отбор основных параметров; начисление баллов по каждому параметру; суммирование баллов по базовому и искомому товару; расчет цен на товары по соотношению суммарных баллов. Ценовой метод баллов целесообразно применять при формировании цен на те товары, параметры которых разнообразны и не поддаются непосредственному количественному соизмерению (удобство, дизайн, мощность, цвет, запах, вкус и т.д.).
Метод регрессии состоит в определении эмпирических формул (регрессионных уравнений) зависимости цен от величины нескольких основных параметров качества в рамках параметрического ряда товаров. При этом цена выступает как функция от параметров качества товара.
Подход к ценообразованию зависит от этапа жизненного цикла изделия, от типа рынка (рынки чистой конкуренции, монополистической конкуренции, олигополистической конкуренции, чистой монополистической конкуренции), от эластичности спроса по ценам, по доходу.
90000 Price Determination in Economics | Small Business 90001 90002 The price of a product is determined by the law of supply and demand. Consumers have a desire to acquire a product, and producers manufacture a supply to meet this demand. The equilibrium market price of a good is the price at which quantity supplied equals quantity demanded. Graphically, the supply and demand curves intersect at the equilibrium price. 90003 90004 Effect of Prices on Demand 90005 90002 Generally, consumers are willing to pay a particular price for a product depending on their income levels and intensity of desire to own the product.This relationship is expressed in economic terms by the demand curve. If the price of a good goes up, consumers will buy less of it. Conversely, consumers will purchase more of a product if the price goes down. 90003 90002 However, economic forces are not always that simple. Other factors come into play to influence the equilibrium price as determined by the supply-demand equations of economics. 90003 90010 Factors That Shift the Demand Curve 90005 90002 When a change increases the desire of consumers to purchase a good, the demand curve shifts to the right.If the change decreases consumers ‘willingness to acquire a product, the demand curve shifts to the left. 90003 90002 The following are changes in demand-related factors that affect the quantities demanded at every price along the demand curve: 90003 90002 90017 Consumer preferences 90018: Consumer tastes are constantly changing as new technology comes out or clothing fashions change. For example, the introduction of cell phones eliminated consumer preferences for pagers. 90003 90002 90017 Income of consumers 90018: Changes in consumer incomes will shift the demand curve.For example, consumers with higher incomes are more likely to buy brand-name grocery products instead of generic brands. On the other hand, consumers are more able to purchase a car when they have higher incomes instead of taking the bus, thereby reducing the demand for bus services. 90003 90002 90017 Price of other consumer products-substitutes or complements: 90018 Two goods are complements if a price increase in one causes a drop in demand for the other. For example, if computer prices increase, decreasing the demand, consumers will have less need for software; so the demand for software apps will drop.Other examples are eggs and bacon, and bagels and cream cheese; price changes in one product will affect the demand for the other. 90003 90002 90017 Expectations about the future 90018: Expectations about the future affects consumer behavior. If consumers believe that prices for a product will rise in the future, they will purchase more of the product now, shifting the demand curve to the right. 90003 90032 Effect of Supply 90005 90002 Movements along the supply curve are only caused by changes in the price of the good.90003 90002 The law of supply says that producers will increase output when the price of a good increases. A shortage of supply will drive prices up. Consumers fear that they will not be able to obtain the product, so they are willing to pay more for it. 90003 90002 An excess of supply will cause producers to cut prices to reduce the inventory that is building up in their warehouses. 90003 90040 Factors That Shift the Supply Curve 90005 90002 When a change increases the willingness of manufacturers to offer more of a good at the same price, the supply curve shifts to the right.If the change decreases the willingness of the producer to sell the good at the same price, the supply curve shifts to the left. 90003 90002 90017 Input prices: 90018 When the prices of raw materials go up, the profits on certain products go down. As a result, manufacturers will reduce production volume and focus on products with higher profits. The supply curve will shift to the left. 90003 90002 90017 Number of sellers: 90018 The supply curve moves to the right when new sellers enter the market.Competition increase as more products become available, putting downward pressure on prices. 90003 90002 90017 Technology: 90018 Advances in technology increase productivity in the manufacturing processes, making goods more profitable and shifting the supply curve to the right. 90003 90056 Effects of Elasticity on Prices 90005 90002 Elasticity is another theory of price determination. It is a ratio of how much one variable changes in percentage versus a one percent change in a different variable.In economics, price elasticity is a measure of how much demand changes with an increase or decrease in price. 90003 90002 The formula to calculate price elasticity is as follows: 90003 90002 Elasticity = (percent change in quantity demanded) / (percent change in price) 90003 90002 When a one percent price change results in a greater than one percent change in quantity demanded, the demand curve is elastic. 90003 90002 If a one percent change in price leads to a less than one percent change in demand, the demand curve is considered inelastic.90003 90002 Let’s take a few examples to explain these economic theories in common situations. 90003 90002 Suppose the price of a chocolate bar increased by 10 percent and the demand dropped by 20 percent. The price elasticity would be: 90003 90002 Price elasticity = -20 percent / 10 percent = -2 90003 90002 In this case, the price elasticity for a chocolate bar is highly elastic; in other words, demand is very sensitive to changes in prices. Higher absolute numbers indicate more price elasticity.90003 90002 A few more examples of price elastic products: 90003 90002 90017 Beef: 90018 Food products are price elastic when alternate products exist. Price increases of beef will cause consumers to buy more chicken and pork. 90003 90002 90017 Luxury sports cars 90018: Luxury cars are expensive and represent a large portion of a consumer’s income. Price increases of high-priced autos will reduce demand unless consumer incomes are going up rapidly. 90003 90002 90017 Airline tickets 90018: Airlines compete fiercely on ticket prices.Consumers have numerous choices to compare prices; they can also choose to travel by train or car where the cost of transportation may be lower. 90003 90002 Consider a product where the demand is inelastic: gasoline. People must have gas to drive to work, go to the grocery store and take the kids to soccer practice. If gas prices go up, consumers will still buy gasoline; they do not have many alternatives, at least in the short term. 90003 90002 Take this example: gas prices increase by 15 percent and demand goes down by 1 percent.90003 90002 Price elasticity = -1 percent / 15 percent = -0.07 90003 90002 Although gasoline prices are inelastic in the short term, higher prices will drive consumers to purchase more fuel-efficient cars in the long term. 90003 90002 A marketer must understand the elasticity dynamics of the products to develop pricing strategies. A mistake in anticipating how the consumer will react to price changes can have devastating results on sales and profits. 90003 90002 Other examples of products with inelastic demand: 90003 90002 90017 Salt: 90018 The consumption of salt represents a small portion of the consumer’s income, and no good substitutes exist.A price increase in salt will have little effect on demand. 90003 90002 90017 Water 90018: Water is a necessity. If the local water utility raises prices, consumers would have to pay up. Besides, they do not have alternate sources, other than the more expensive bottled water. 90003 90002 90017 Cigarettes: 90018 The demand for addictive products is usually inelastic. If governments place more taxes on cigarettes, the demand will not drop appreciably, until taxes become extremely high. 90003 90002 The methods of price determination in economics include the laws of supply and demand, and the effects of price elasticity.Numerous factors enter the economic equations that determine equilibrium prices; marketers have to understand the pricing dynamics in their markets to develop effective pricing strategies. 90003.90000 Determinants of Supply 90001 90002 Home 90002 Economics 90002 Supply and Demand 90002 Determinants of Supply 90006 90007 Determinants of supply 90008 (also known as factors affecting supply) are the factors which influence the quantity of a product or service supplied. The price of a product is a major factor affecting the willingness and ability to supply. Here we will discuss the determinants of supply other than price. These are the factors which are assumed to be constant in law of supply.90009 90006 Change in the price of a product causes the price-quantity combination to move along the supply curve. However when the other determinants change, the supply curve is shifted. 90009 90006 Following are the major determinants of supply other than price: 90009 90014 Number of Sellers 90015 90006 Greater the number of sellers, greater will be the quantity of a product or service supplied in a market and vice versa. Thus increase in number of sellers will increase supply and shift the supply curve rightwards whereas decrease in number of sellers will decrease the supply and shift the supply curve leftwards.For example, when more firms enter an industry, the number of sellers increases thus increasing the supply. 90009 90014 Prices of Resources 90015 90006 Increase in resource prices increases the production costs thus shrinking profits and vice versa. Since profit is a major incentive for producers to supply goods and services, increase in profits increases the supply and decrease in profits reduces the supply. In other words supply is indirectly proportional to resource prices. Increase in resource prices reduces the supply and the supply curve is shifted leftwards whereas decrease in resource prices increases the supply and the supply curve is shifted rightwards.90009 90014 Taxes and Subsidies 90015 90006 Taxes reduces profits, therefore increase in taxes reduce supply whereas decrease in taxes increase supply. Subsidies reduce the burden of production costs on suppliers, thus increasing the profits. Therefore increase in subsidies increase supply and decrease in subsidies decrease supply. 90009 90014 Technology 90015 90006 Improvement in technology enables more efficient production of goods and services. Thus reducing the production costs and increasing the profits.As a result supply is increased and supply curve is shifted rightwards. Since technology in general rarely deteriorates, therefore it is needless to say that deterioration of technology reduces supply. 90009 90014 Suppliers ‘Expectations 90015 90006 Change in expectations of suppliers about future price of a product or service may affect their current supply. However, unlike other determinants of supply, the effect of suppliers ‘expectations on supply is difficult to generalize. For example when farmers suspect the future price of a crop to increase, they will withhold their agricultural produce to benefit from higher price thus reducing the supply.In case of manufacturers, when they expect the future price to increase, they will employ more resources to increase their output and this may increase current supply as well. 90009 90006 Firms which are able to manufacture related products (such as air conditioners and refrigerators) will the shift their production to a product the price of which increases substantially related to other related product (s) thus causing a reduction of supply of the products which were produced before. For example a firm which produces cricket bats is usually able to manufacture hockey sticks as well.When the price of hockey sticks increases, the firm will produce more hockey sticks and less cricket bats. As a result, the supply of cricket bats will be reduced. 90009 90014 Prices of Joint Products 90015 90006 When two or more goods are produced in a joint process and the price of any of the product increases, the supply of all the joint products will be increased and vice versa. For example, increase in price of meat will increase the supply of leather. 90009 90006 by Irfanullah Jan, ACCA and last modified on 90041 Jun 12, 2018 90042 90009 .90000 How demand and supply determine market price 90001 90002 Introduction 90003 90004 Price is dependent on the interaction between demand and supply components of a market. Demand and supply represent the willingness of consumers and producers to engage in buying and selling. An exchange of a product takes place when buyers and sellers can agree upon a price. 90005 90004 This section of the Agriculture Marketing Manual explains price in a competitive market. When imperfect competition exists, such as with a monopoly or single selling firm, price outcomes may not follow the same general rules.90005 90002 Equilibrium price 90003 90004 When a product exchange occurs, the agreed upon price is called an equilibrium price, or a market clearing price. Graphically, this price occurs at the intersection of demand and supply as presented in Image 1. 90005 90004 In Image 1, both buyers and sellers are willing to exchange the quantity Q at the price P. At this point, supply and demand are in balance. Price determination depends equally on demand and supply. 90005 90004 90015 Image 1.90016 Figure 1, Graph showing price equilibrium curves 90005 90018 90004 It is truly a balance of the market components. To understand why the balance must occur, examine what happens when there is no balance, such as when market price is below that shown as P in Image 1. 90005 90004 At any price below P, the quantity demanded is greater than the quantity supplied. In such a situation, consumers would clamour for a product that producers would not be willing to supply; a shortage would exist.In this event, consumers would choose to pay a higher price in order to get the product they want, while producers would be encouraged by a higher price to bring more of the product onto the market. 90005 90004 The end result is a rise in price, to P, where supply and demand are in balance. Similarly, if a price above P were chosen arbitrarily, the market would be in surplus with too much supply relative to demand. If that were to happen, producers would be willing to take a lower price in order to sell, and consumers would be induced by lower prices to increase their purchases.Only when the price falls would balance be restored. 90005 90004 A market price is not necessarily a fair price, it is merely an outcome. It does not guarantee total satisfaction on the part of buyer and seller. Typically, some assumptions about the behaviour of buyers and sellers are made, which add a sense of reason to a market price. For example, buyers are expected to be self-interested and, although they may not have perfect knowledge, at least they will try to look out for their own interests.Meanwhile, sellers are considered to be profit maximizers. This assumption limits their willingness to sell to within a price range, high to low, where they can stay in business. 90005 90027 Change in equilibrium price 90028 90004 When either demand or supply shifts, the equilibrium price will change. The section on understanding supply factors explains why a market component may move. The examples below show what happens to price when supply or demand shifts occur. 90005 90004 90015 Example 1: Unusually good weather increases output 90016 90005 90004 When a bumper crop develops, supply shifts outward and downward, shown as S2 in Image 2, more product is available over the full range of prices.With no immediate change in consumers ‘willingness to buy crops, there is a movement along the demand curve to a new equilibrium. Consumers will buy more but only at a lower price. How much the price must fall to induce consumers to purchase the greater supply depends upon the elasticity of demand. 90005 90004 90015 Image 2 90016. Figure 2, Graph showing movement along demand curve 90005 90041 90004 In Image 2, price falls from P1 to P2 if a bumper crop is produced.If the demand curve in this example was more vertical (more inelastic), the price-quantity adjustments needed to bring about a new equilibrium between demand and the new supply would be different. 90005 90004 To understand how elasticity of demand affects the size of adjustment in prices and quantities when supply shifts, try drawing the demand curve (or line) with a slope more vertical than that depicted in Image 2. Then compare the size of price-quantity changes in this with the first situation.With the same shift in supply, equilibrium change in price is larger when demand is inelastic than when demand is more elastic. 90005 90004 The opposite is true for quantity. A larger change in quantity will occur when demand is elastic compared with the quantity change required when demand is inelastic. 90005 90004 90015 Example 2: Consumers lower their preference for beef 90016 90005 90004 A decline in the preference for beef is one of the factors that could shift the demand curve inward or to the left, as seen in Image 3.90005 90004 90015 Image 3. 90016 Figure 3. Graph showing movement along supply curve 90005 90058 90004 With no immediate change in supply, the effect on price comes from a movement along the supply curve. An inward shift of demand causes price to fall and also the quantity exchanged to fall. The amount of change in price and quantity, from one equilibrium to another, is dependent upon the elasticity of supply. 90005 90004 Imagine that supply is almost fixed over the time period being considered.That is, draw a more vertical supply curve for this shift in demand. When demand shifts from D1 to D2 on a more vertical supply curve (inelastic supply) almost all the adjustment to a new equilibrium takes place in the change in price. 90005 90002 Price stability 90003 90004 Two forces contribute to the size of a price change: the amount of the shift and the elasticity of demand or supply. For example, a large shift of the supply curve can have a relatively small effect on price if the corresponding demand curve is elastic.That would show up in Example 1 above, if the demand curve is drawn flatter (more elastic). 90005 90004 In fact, the elasticity of demand and supply for many agricultural products are relatively small when compared with those of many industrial products. This inelasticity of demand has led to problems of price instability in agriculture when either supply or demand shifts in the short-term. 90005 90002 Price level 90003 90004 The two examples above focus on factors that shift supply or demand in the short-term.However, longer-term forces are also at work, which shift demand and supply over time. One particular supply shifter is technology. A major effect of technology in agriculture has been to shift the supply curve rapidly outward by reducing the costs of production per unit of output. 90005 90004 Technology has had a depressing effect on agricultural prices in the long-term since producers are able to produce more at a lower cost. At the same time, both population and income have been advancing, which both tend to shift demand to the right.The net effect is complex, but overall the rapidly shifting supply curve coupled with a slow moving demand has contributed to low prices in agriculture compared to prices for industrial products. 90005 90004 At various levels of a market, from farm gate to retail, unique supply and demand relationships are likely to exist. However, prices at different market levels will bear some relationship to each other. For example, if hog prices decline, it can be expected that retail pork prices will decline as well.This price adjustment is more likely to happen in the long-term once all participants have had time to adjust their behaviour. 90005 90004 In the short-term, price adjustments may not occur for a variety of reasons. For example, wholesalers may have long-term contracts that specify the old hog price, or retailers may have advertised or planned a feature to attract customers. 90005 90002 Summary 90003 90004 Market prices are dependent upon the interaction of demand and supply. 90005 90004 An equilibrium price is a balance of demand and supply factors.90005 90004 There is a tendency for prices to return to this equilibrium unless some characteristics of demand or supply change. 90005 90004 Changes in the equilibrium price occur when either demand or supply, or both, shift or move. 90005 .90000 A Scientific 3-Step Guide (With Calculator) 90001 90002 Product pricing is an essential element in determining the success of your product or service, yet eCommerce entrepreneurs and businesses often only consider pricing as an afterthought. They settle and use the first price that comes to mind, copy competitors, or (even worse) guess. 90003 90002 90005 Humans are irrational. Product pricing strategy is just as much as an art form as it is a science. 90006 90003 90002 Today, I’ll be breaking down the 90009 scientific 90010 side of how to price your product.90003 90002 There are lots of resources out there on the 90009 art 90010 of pricing, but this step-by-step guide will provide you with the 90005 tools and strategies you need to create a reliable, data-backed pricing structure for your product 90006 . 90003 90002 Use this product pricing calculator to help you price your product 90003 90002 There are lots of product-pricing strategies out there based on the study of human psychology. 90003 90002 Ending your price with a 9 or a 5, for example, is called «90005 Charm Pricing.90006 «Millions of businesses have used charm pricing to price their products, and it’s proven to increase sales. 90003 90002 Or there’s «90005 The Rule of 100, 90006» a fantastic psychological hack to maximize the perceived magnitude of your discount, no matter the discount size. With 90009 The Rule of 100 90010, businesses use percentage amount discounts for items under $ 100 and dollar amount discounts for items over $ 100. 90031 [*] 90032 90003 90002 Without a doubt, psychology is an important part of pricing.90003 90002 But let’s take a look at scientific approaches and strategies. Follow these steps to arrive at the optimal price for your product. 90003 90038 90005 Step 1: Find A Base Price By Getting To Know Common Pricing Strategies In Your Industry 90006 90041 90002 Thousands of entrepreneurs and decades of learning have paved the way for new businesses to craft a strategy that utilizes the most innovative pricing options available. 90003 90002 Knowing which pricing models work best in your industry can simplify how you price a product, and give you confidence knowing that you’re not simply guessing.90003 90046 90005 Cost-Based Pricing 90006 90049 90002 One of the most simple ways to price your product is called 90005 cost-plus pricing 90006. 90031 [*] 90032 90003 90002 Cost-based pricing involves calculating the total costs it takes to make your product, then adding a percentage markup to determine the final price. 90003 90002 For example, let’s say you’ve designed a product with the following costs: 90003 90060 90061 90002 Material costs = $ 20 90003 90064 90061 90002 Labor costs = $ 10 90003 90064 90061 90002 Overhead = $ 8 90003 90064 90061 90002 90005 Total Costs = $ 38 90006 90003 90064 90079 90002 You then add your markup percentage, let’s say 50% (retail industry standard), to the total costs to give you a final product price of $ 57.00 ($ 38 x 1.50). If you remember our «Charm Pricing» tactic from the beginning, you might mark this product at $ 57.99. 90003 90002 This method is simple, fast, and lets you quickly add a profit margin to any product you intend to sell. 90003 90046 90005 Market-Oriented Pricing 90006 90049 90002 Also referred to as a competition-based pricing strategy, 90005 market-oriented pricing 90006 compares similar products (competition) in the market. 90003 90002 The seller sets the price higher or lower than their competitors depending on how well their own product matches up.90031 [*] 90032 90003 90060 90061 90002 90005 Price above market 90006: Consciously pricing your product above the competition to brand yourself as having a higher-quality or better-performing item 90003 90064 90061 90002 90005 Copy market 90006: Selling your item at the same price as your competition to maximize profit while staying competitive 90003 90064 90061 90002 90005 Price below market 90006: Using data as a benchmark and consciously pricing a product below competitors, to lure customers into your store over theirs 90003 90064 90079 90002 Each of the above strategies in the market-oriented model has its pros and cons.With market-oriented pricing, it’s important to understand the costs of making your product, as well as the quality compared to competitors to accurately price your product. 90003 90046 90005 Dynamic Pricing 90006 90049 90002 90005 Dynamic pricing 90006, also referred to as demand pricing or time-based pricing, is a strategy in which businesses set flexible prices for a product or service based on current market demands. 90031 [*] 90032 90003 90002 In other words, dynamic pricing is the act of changing a price multiple times throughout the day, week, or month to better match consumer purchasing habits.90003 90002 Here’s how it might look for eCommerce businesses in action: 90003 90002 It’s not just services like Uber that take advantage of dynamic pricing to maximize profits. Amazon has long been using price surges on their most-competitive items for big eCommerce shopping days such as Black Friday and Cyber Monday. 90031 [*] 90032 90003 90002 Amazon prices fluctuate so frequently that the price-tracking site camelcamelcamel checks prices for popular items several times per day. 90031 [*] 90032 90003 90002 90003 90002 There are a ton of great software products out there that will help you to automatically apply dynamic pricing to your products, without breaking the bank or pulling your hair out.90003 90002 These tools allow you to set specific pricing guidelines by targeting certain margins that will help your eCommerce business to remain profitable. 90003 90038 90005 Step 2: Capture More Market Share By Experimenting With Pricing (And Understanding Price Elasticity) 90006 90041 90002 Lots of businesses fall into the trap of thinking if they lower product prices, more people will buy the product and their revenue will increase. 90003 90152 90002 90005 «The problem with the race to the bottom is that you might win.Even worse, you might come in second. » — Seth Godin 90006 90031 [*] 90032 90003 90159 90002 Strategically lowering product costs does have benefits, and can lead to increased revenue. For one, it reduces the amount of money being left on the table (consumer surplus) for customers who are willing to buy at various price points. 90003 90002 Put simply, 90009 Consumer Surplus 90010 is the difference between what the consumer pays and what he would have been willing to pay. 90031 [*] 90032 90003 90002 90003 90002 So how do you maximize profits while also capturing more market share? 90003 90002 You need to understand the sales volume of a product at specific price points, and what allows you to remain profitable.In other words, you need to understand 90005 price elasticity 90006. 90003 90002 Price Elasticity is a measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. If the quantity demanded of a product exhibits a large change in response to its price change, it is termed «elastic». 90031 [*] 90032 90003 90002 For a second, imagine you have 100 customers that purchase your product: 90003 90002 90003 90002 After testing pricing, you find customers convert at different rates depending on the price of the product.You also find that sales volume fluctuates with price: 90003 90002 90003 90002 Given this small amount of data, you can now easily calculate how much revenue is generated from each price point. Theoretically, this is a great way to improve upon the «base» product price that you calculated in step one: 90003 90002 90003 90002 But there’s one small problem … 90003 90002 90003 90002 What about the 65 customers that would have purchased at a $ 5 or $ 10 price point? 90003 90002 That’s $ 450 in revenue that you are losing out on.No sane business owner wants to do that, which is why you need a strategy to unlock that untapped gold mine. 90003 90002 There are lots of pricing strategies out there to do this, but my three favorites for profitably lowering prices are 90005 discount pricing 90006, 90005 loss-leader pricing 90006, and 90005 anchor pricing 90006. 90003 90046 90005 Discount Pricing 90006 90049 90002 Discount pricing is a strategy where items are initially marked up artificially or start at a higher price, but are then offered for sale at what seems to be a reduced cost to the consumer.90003 90002 An online retail store, such as Macy’s shown above, might offer discount pricing on all of its kitchen items for a limited time to attract new customers and boost sales. 90003 90002 This is a simple way to attract new customers that might not have bought a particular item at a higher price. 90003 90002 The key to ensuring that the discount pricing strategy remains profitable for your business is to keep the profit margins close to $ 0 or slightly positive. In other words, do not sell your products at a discount just to get customers in the door, only to find out you’re losing money hand over fist.90003 90002 Attract customers with discounts, keep your profit margin on discounted items close to $ 0, and then upsell or cross-sell other items in your store to turn a profit. 90003 90002 That is, unless you want to give loss-leader pricing a shot …. 90003 90046 90005 Loss-Leader Pricing 90006 90049 90002 Similar to discount pricing in strategy, loss-leader pricing takes a slightly more risky approach to attracting purchasers . 90003 90002 According to Inc. «Loss-leader pricing is an aggressive pricing strategy in which a store sells selected goods below cost in order to attract customers who will, according to the loss-leader philosophy, make up for the losses on highlighted products with additional purchases of profitable goods.»90031 [*] 90032 90003 90002 Patagonia is a perfect example of loss-leader pricing done right. First, they start with a «Web Specials» page that they promote via email and social media: 90031 [*] 90032 90003 90002 90003 90002 In examining their Web Special products, many items are sold at 25-75% below normal retail price: 90003 90002 90003 90002 The key difference with 90005 loss-leader pricing vs. standard discount pricing 90006 is businesses often know that they will not make a profit on items sold as loss-leaders.And that starts with a deep understanding of your product costs and profit margins. 90003 90002 Use this product pricing calculator to find the best price for your product. 90003 90002 Using this pricing strategy can help attract large numbers of customers who would otherwise shop elsewhere, and some of them will buy items with a higher profit margin. 90003 90046 90005 Anchor Pricing 90006 90049 90002 There’s a great video of Steve Jobs announcing the iPad price on stage in 2010. 90003 90002 90259 90260 90003 90002 He rhetorically asks the attendees what they should price the iPad at.90003 90002 «If you listen to the pundits, we’re going to price it at under $ 1000, which is code for $ 999,» says Jobs. 90003 90002 $ 999 appears on the screen before he continues … 90003 90002 «I am thrilled to announce to you that the iPad pricing starts not at $ 999, but at just $ 499.» 90003 90002 On the screen, the $ 999 price is shattered by a falling «$ 499.» 90003 90002 That’s 90005 anchor pricing 90006 at its absolute finest. 90003 90002 Anchor Pricing is where you display your «regular» price and then visibly lower the price of that item in stores or online.It works so well because it helps you to create an image in shoppers ‘minds that they’re getting an incredible deal. 90003 90002 Little do they know that the regular price was made up in the first place! 90003 90038 Step 3: Make Sure Your Product Pricing Drives Long-Term Business Profit 90041 90002 At this point, you should have some idea of where you’re going to start with pricing your product. 90003 90002 But our work here is not done. 90003 90002 To ensure that you maintain long-term product profitability you must analyze your current business metrics, as well as design a plan to constantly experiment moving forward.90003 90046 90005 Analyzing Your Current Metrics 90006 90049 90002 The pricing strategies covered above offer good guidance on how to price a product. 90003 90002 However, the mix of pricing strategies you implement must result in enough income to cover your 90005 overhead expenses 90006, while also leaving you a bit of profit to spark continuous growth. 90003 90002 90003 90002 Overhead expenses that you should consider include: 90003 90060 90061 90002 Rent 90003 90064 90061 90002 Manufacturing costs 90003 90064 90061 90002 Facilities costs 90003 90064 90061 90002 Utilities 90003 90064 90061 90002 Staff salary and related costs 90003 90064 90061 90002 Marketing costs 90003 90064 90061 90002 Professional fees, licenses, or permits 90003 90064 90061 90002 Packaging costs 90003 90064 90061 90002 Shipping supply costs 90003 90064 90061 90002 Website maintenance costs 90003 90064 90061 90002 Personal income 90003 90064 90061 90002 Taxes 90003 90064 90079 90002 I recommend calculating your overhead expenses on a monthly basis.That way you’ll have a running and accurate total at all times — allowing you to proactively price your product based on your findings. 90003 90002 If you find you’re operating at a month-over-month net loss, you can quickly make decisions to return to profitability. 90003 90046 90005 Experiment With Pricing 90006 90049 90002 There are many things that directly affect the pricing of a product. That’s why it’s important to not allow your pricing strategy to remain static. 90003 90002 Prices that fluctuate and move with the market will help to increase revenue and decrease consumer surplus.90003 90002 Here are three great ways you can experiment with your pricing: 90003 90002 90005 1. Raise Your Prices On Best-sellers 90006 90003 90002 We’ve talked about how lowering product prices can lead to a reduction in consumer surplus, well raising your prices can have a similar positive effect. 90003 90002 If one or more of your products is selling at a high volume, experiment with raising its price. This will increase your gross revenue and allow you to make up for any other products that are not pulling their weight.90003 90002 One way to offset the potential negative impacts of raising your prices is to experiment with pairing higher prices with free shipping. This will help to make your customers happy while also increasing your bottom line. 90003 90002 See below for more on «free shipping». 90003 90002 90005 2. Take Advantage Of Seasonal Discounts Or Promotions 90006 90003 90002 Seasonal sales and promotions are one of the best ways to attract more customers to your website or physical store. 90003 90002 Even something as small as offering «free shipping» can help to increase customers and revenue.90003 90002 According to First Round Review, Amazon famously drove up its purchase volume by offering free shipping for all orders over $ 25 (after an increase to $ 35 and back down to $ 25 in 2017). Free shipping is an attractive incentive because it appeals to anyone who is getting something mailed to them. 90031 [*] 90032 90003 90002 90003 90002 90005 3. Model, Do not Copy Your Competitors 90006 90003 90002 As with any great business or pricing strategy, looking towards the market (particularly your competitors) is a great way to stay on top of current pricing trends.90003 90002 Everything from stock market fluctuations and employment rates, to new laws and trends, can affect the price that people are willing to pay for your product. 90003 90002 That’s why it’s important to keep an eye on the market and your competitors. 90003 90002 But remember, you are operating on your terms with your overhead expenses and profit margins. So while it’s great to evaluate how they’re pricing their product, you need to put your business first. 90003 90002 According to PWC’s «2018 Global Consumer Insights Survey,» global retail eCommerce sales will reach $ 4.878 trillion by 2021. That’s an 18% increase in worldwide eCommerce sales, from $ 1.845 trillion in 2016 to $ 4.878 trillion in 2021! 90031 [*] 90032 90003 90002 Millions of business are vying for customers ‘attention. 90003 90002 One way to gain a competitive advantage in this wild marketplace is to have a product pricing strategy that is dynamic — one that moves with the market, and one that allows your business to remain profitable all at the same time. 90003 90002 The last thing you want is customers leaving your store because you fail to adapt, and update the value of your product.90003 90002 Use this step-by-step guide constantly throughout the year. Save it to your bookmarks, add it to pocket, do whatever you have to do to keep yourself accountable for ensuring that your product pricing strategy remains competitive. 90003 90002 Use this product pricing calculator to help you price your product 90003 .
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