- To gain an understanding of the basics of pricing in order to determine at what level of sales at a particular price, will enough revenue be produced to generate the wages and profits which the co-op requires.
Why is Pricing Important:
- Price is often a key determinant of market acceptance of the product or service.
- Pricing is a key factor in determining the amount of revenue a co-op will generate.
- Since revenue is required to pay expenses and to produce profit, pricing is crucial.