Setting your prices
The two biggest challenges in putting together your forecast will be estimating how many sales you will make and deciding what price you will sell at.
There is no scientific, straightforward answer to the question of ‘What price should I charge?’ It’s an art form, balancing many different considerations:
- What is the highest price you can get from your customers?
- What is your business model? Cheap and cheerful? Or luxury, love and large price tags?
- What does it cost you to provide your customers with the product or service? Your price will need to be more than this – preferably lots more!
- What do your competitors charge? And do you want to be perceived as being cheaper than them or better than them?
- Are the prices already ...
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