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You're a pricing analyst tasked with setting prices for new products. Evaluate the pricing strategy for three new products: Product A: Manufacturing cost of $20
You're a pricing analyst tasked with setting prices for new products. Evaluate the pricing strategy for three new products:
- Product A: Manufacturing cost of $20 per unit, desired profit margin of 30%.
- Product B: Manufacturing cost of $30 per unit, desired profit margin of 40%.
- Product C: Manufacturing cost of $25 per unit, desired profit margin of 25%.
Requirements:
- Calculate the selling price for each product based on the desired profit margin.
- Assess the competitiveness of the pricing strategy for each product.
- Recommend any adjustments to the pricing strategy to maximize profitability.
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