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Based on the below, why would it be surprising for someone to learn that markup price is insensitive to external factor? We've gathered all the
Based on the below, why would it be surprising for someone to learn that markup price is insensitive to external factor? We've gathered all the information. We are ready to actually set a price. How does one do that? What you're seeing on your screen here are different methods or different strategies that you can have to price your product. You can have a simple markup pricing. Very simplistic look internally. This is how much it costs me. Let's say to manufacture this product. Let's say it cost me four dollars. I want to market up 50 percent, that means four plus two. I'm going to price it at six dollars. A very simple markup pricing looking at cost. It is insensitive to everything else outside because I'm purely looking at my internal costs. Mark-up pricing is the simplest way to price, but it is insensitive to everything else that's going on in the outside world. You can have target return pricing if you will. You're investing, let's say X amount of resources in your project. What is ROI that you are expecting? You can price your product that way. In terms of project work, people typically might be looking
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