Pricing Strategy: Using COGS to Set Profitable and Competitive Prices
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Learn how to use COGS to develop a pricing strategy that covers costs, ensures profitability, and helps you stay competitive in the market. Understand its role in pricing decisions and achieving business success.
Understanding the Cost of Goods Sold (COGS) is crucial for any business looking to price its products effectively. COGS goes beyond just covering raw materials and labor—it ensures that pricing accounts for all essential expenses, including marketing, distribution, and overhead. By accurately calculating COGS, businesses can set competitive prices that not only cover costs but also generate sustainable profits. Without this insight, you might be pricing too low and losing money or too high and losing customers.
Want to learn how COGS impacts your pricing strategy and profitability? This video breaks down why knowing your true costs is key to staying competitive and making smarter business decisions. Watch now to discover how optimizing your COGS can help you improve margins, outprice competitors, and grow your business!
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