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What are the factors to be considered in pricing new product

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Reference no: EM132493337

Question 1: A company just come up with a new product and will be brought to the market soon, What are the factors to be considered in pricing your new product?

Factors to be considered:

  1. Know your customers
  2. Consideration of your costs
  3. Profit target
  4. Market competitiveness

Please Explain in detail

Reference no: EM132493337

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