Monday, April 4, 2016

Pricing

When I was learning about pricing I learned many tactics when pricing such as loss leaders, making a product cheap to attract customers. I was able to make lots of profit messing with the prices of many items. I ended up putting the global margin (margin for everything) to 30% and set milk to 35% since it was a best seller.  This helped me make profit within a few weeks messing with the margins, the difference cost of an item and the price of it, to attract customers and still make a profit.

2 comments:

  1. It sounds like you're learning about economics and profit maximization! It's amazing how changing a price can effect products sold & profit so much!

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  2. As a consumer, I look for sales and cheaper prices! You're smart to play into this, while still keeping good margins for you as the seller. You're learning a lot in this process.

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