Chapter Name: Explain the criteria of a price setting policy for a new venture
Description:Learners examine factors influencing pricing strategies for new businesses.
Purpuse:To understand how to establish pricing policies that align with business objectives.
Rational:Effective pricing strategies are essential for competitiveness and profitability.
Chapters Topics
The flow of the trading cycle is explained and illustrated for a new venture.
Describe how goods and services move through the stages of the business cycle, from production to customer delivery in a new venture.
The concepts costing and pricing are differentiated in terms of a product or service.
Explain the difference between calculating the cost of a product/service and setting a price that ensures profit.
The difference between fixed costs, variable costs and total costs are explained in the context of own venture.
Define and distinguish between cost types, and explain their relevance to business operations and pricing strategies.