Factors Affecting Price . 4.5 / 5 based on 5 ratings ? Business StudiesProfitGCSEOCR Created by: izzyCreated on: 29-06-12 20:59 Cost A firm needs to make a profit, so it can't afford to sell below the cost of production. 1 of 6 Product Life Cycle Launch = Low price Growth = Increased price Maturity/Decline = Discounted price 2 of 6 Competition A firm needs to be aware of what competitors are charging. Customer A valued customer may be offered a special price. 3 of 6 Market Different places or conditions mean different prices. 4 of 6 Service The level of service provided affects the price. A meal in a posh restaurant will cost more than one at a fast food place! 5 of 6 6 of 6
Comments
No comments have yet been made