Product cost and its impact on markup

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The financial literacy of society is growing, people are becoming attentive to their expenses. They study the market, consider possible options, compare products and prices and only then buy. Let's look at what factors influence the markup:

1. Product cost. The higher the cost of production or purchase of goods, the higher the markup will be.

2. Competition in the market. If there are many iran mobile database sellers in the market offering similar products, then the prices may be lower than those of competitors.

3. Demand for the product. If the demand for the product is high, the seller can set a higher price.

4. Product quality. This means that if the product is made well and can serve the buyer for a long time, the seller has the right to set a higher price for it than for a low-quality product.

Strategies to attract customers without reducing the markup
The goal of business is to increase sales and make a profit. At the same time, sellers face the question: how to attract more customers without reducing the markup? The following methods can help:

Creating a unique offer that will stand out from the competition.
Promotions and discounts. An old reliable tool, for example, launch a promotion “Buy… – get a discount…” or “When buying… for the amount of – get…”.