What factors must be taken into consideration to determine the "right" price for a product?
1. Will enough money be made to pay for the development and production of the product?
2. Will the product produce more money than competitors' products?
3. Will it generate enough sales dollars to pay for the marketing of the product?
4. What costs can we eliminate in order to make more money on the product?
5. Will the product provide a profit for the company?
6. What are customers willing to pay for the product?
