The Product Of A Product

1466 Words6 Pages
One of the hardest part about being a producer is putting items for sale at a price that the consumer will be able to afford, while at the same time making an appropriate profit. If you put the prices on items too high, then the customer will either complain about the prices or they will go and find the product somewhere else. If you put the prices on a product too low, then everyone will be able to afford it and you will make little to no profit at that rate. In selling a product, one must take multiple factors into consideration. Factors such as: if the product suits the target market, if this product is affordable by all classed-citizens, or if the profit of the product out-weighs the cost of production. Once all of these factors have been taken into consideration and have been respectively examined to the point that the product will have little to no chance of failure, only then can the marketing of a product become successful. Successful marketing is seen everywhere, but how much of a beneficial impact it makes on society is due to the success. Examining the major beneficial factors of total cost minimization for the producers, consumers, and society. To begin, total cost minimization for the products greatly benefits the consumers because no matter what product is being marketed, a cheaper product is a cheaper product. A product that is specifically made for an upper-classed citizen fails to attract the masses which are mostly the lower-classed citizens. If someone

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