How to price a product (includes formula and example) | Boardfy

If you have a business, whether it is an online store where you sell items, or a company that offers services, you need to know how to calculate the cost of a product or how to calculate the price of a service, respectively.Calculating the right selling price for your product or service is one of the most important decisions you, as an entrepreneur or business owner, must make if your goal is to make money instead of losing it.As you know, at Boardfy we like to help you as much as we can.That’s why, in this article, we explain how to calculate the RRP of a product, we discuss different types of strategies you can use to set the price and, in addition, we give you a general formula so that you yourself will be able to perform this price calculation.As always, with examples so that you can understand everything without any problems.Let’s get to it.How do you know at what price to sell a product?To answer this question, and set your prices with full knowledge of the facts, you must take i...