During a specialized training program:
"Social Development Bank," calling for the introduction of a new mechanism for the pricing of products and services
The Director of the Women's Branch Bank of Social Development in the Eastern Region Fawzia Al-Qahtani called to the development of new means, for the pricing of goods and services .. confirmed that the pricing process should proceed in accordance with a clear mechanism, taking into account the reality of the market, the level of supply in the market, and the intensity of competition.
She explained during a training program organized by the bank in cooperation with the Center for Businesswomen in the Asharqia Chamber (Wednesday 20/11/2019) that the bank provides direct financial services is to provide interest-free loans to small and emerging enterprises, and to owners of trades and professions of citizens, as well as non-financial services through "Delney Business Center", ranging from training, consulting, mentoring, training and marketing.
In providing these services, the Bank proceeds from its vision of being a leading entity in empowering social development tools and enhancing the financial independence of individuals and families towards a vibrant and productive society. To contribute to social development, build companies with multiple sectors, spread awareness, and promote a culture of self-employment among all segments of society.
Based on all this, Al-Qahtani called for the development of new methods for pricing goods, goods, and services, based on the concept of being the value that the consumer pays for a particular commodity or service, often to achieve certain objectives, most notably “maximizing profits” or “maximizing sales”. "Or" keeping pace with the market ".. explaining that the price - in this sense - is linked to many factors, included " the price, and" influential "in it, and the first comes the factors" quantity sold, profit margin, taxes and shipping, And marketing costs, production costs, storage, and raw materials, packaging costs, presentations, and Somat ", while the second is represented in factors:" Quality, target income segment, consumer culture, raw materials offered by competitors, shape, and reputation, distribution intermediaries.
Al-Qahtani believes that the best way to price SME products is the first method (pricing on the basis of cost, being simple and clear, and commensurate with the production capacity of the small enterprise .. Therefore, a good price is where the entrepreneur avoids bad methods, and takes into account most of the factors affecting profits and sales, which required all want to commodity pricing or service to answer several questions, including: "Is the product better than competing products, and whether can be marketed in a good way, and whether to accept the market by this price?" After answering these questions can determine the appropriate number the price of the product.
She called for the development of offers, the promotion of products, and the identification of a certain time, which is a successful way to increase sales, and if the price of the product is appropriate, consumers will promote it.
