If a price was raised for me, how do I figure out the percenage or whatever, so that I can figure out how to adjust my prices accordingly?
2006-07-23 00:55:55 · 8 answers · asked by baby 2 in Business & Finance ➔ Small Business
By percent
2006-07-23 00:57:56 · answer #1 · answered by ? 6 · 0⤊ 0⤋
ms BABY, make your question elaborate please it would be really helpful to know in realistic terms what business you are in.
the thing is there are two business strategies.
1. if the price is increased then the cost of acquiring increases and reduces the profit
in this case it depends if the price rise is temporary then you have to let go of the profit and dont let the customers go.
2. if the cost increases then the profit decreases if the price you charge to customers is fixed. but if u can convince them that due to some reason the price is raised then if loyal they will understand.
be very safe in this decision as the only thing matters is customer retention. because if they are with u then they will come back.
wise choice : to let go of the profit percentage
but in high volume low price business u have to raise some price as your goal is the keep the overall balance same
for e.g.
50 customers * 100 (each item) = 5000 (sales)
while
42 * 120 = 5040
ok then
take care
2006-07-23 08:06:25 · answer #2 · answered by dd2001uk 3 · 0⤊ 0⤋
Whatever percentage over cost you had been using before the price rise, use according to the new price. If it is a popular item, notify customers of a small price increase as of *insert date here*. Happens all the time in retail, and it shouldn't be a problem. I mean, cost price rises are inevitable.
2006-07-23 07:58:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If whole sale was $2 and now it is $3,
new price/old price=3/2=1.5=150%, a 50% rise in wholesale. Your inventory is now more expensive and a larger investment to carry, so I would raise prices
75% (times 1.75) to compensate.
http://www.kauffman.org
2006-07-23 08:05:31 · answer #4 · answered by helixburger 6 · 0⤊ 0⤋
i would take the price and times it by 3% to get the new selling price
2006-07-23 08:02:23 · answer #5 · answered by bubbles 1 · 0⤊ 0⤋
Just ask so much as people are still wanting to pay for it.
2006-07-23 07:58:37 · answer #6 · answered by · 5 · 0⤊ 0⤋
(new price - old price)/old price
Take that number and multiply it by the old price you charged
2006-07-23 07:59:51 · answer #7 · answered by slinkey_1616 2 · 0⤊ 0⤋
pls dont eat lunch only eat dinner
2006-07-23 08:00:41 · answer #8 · answered by cani 1 · 0⤊ 0⤋