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COUNCIL ACTION FORM NEW BUSINESS ITEM NO. 1 MEETING DATE: SEPTEMBER 2, 2014, STAFF CONTACT: BRIAN FAUST, DIRECTOR OF PUBLIC WORKS Agenda Item: Consider establishing a price for surplus real property

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Identify the cost of production: Calculate all the expenses involved in producing the product or service, including materials, labor, overhead costs, and any other related expenses.

02

Research the market: Conduct market research to understand the demand for the product or service and analyze the prices charged by competitors. This will help you determine the price range you should consider.

03

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04

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New businesses: Startups and new ventures need to carefully establish their pricing strategies to gain a foothold in the market, attract customers, and generate revenue.

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Product/service managers: Managers responsible for a specific product or service offering must consider establishing a price to optimize revenue generation and meet the overall business objectives.

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Small business owners: Entrepreneurs running small businesses must pay close attention to pricing decisions as they often have limited resources and face intense competition.

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Sales and marketing professionals: Professionals in sales and marketing play a crucial role in setting and communicating the value of the product or service to customers, making it essential for them to consider establishing a price.

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What is consider establishing a price?

Establishing a price involves setting a value for a product or service based on various factors such as production costs, market demand, competition, and desired profit margins.

Who is required to file consider establishing a price?

Any individual or business involved in selling goods or services may need to consider establishing a price for their offerings.

How to fill out consider establishing a price?

To fill out consider establishing a price, one must analyze costs, market trends, competition, and desired profit margins to determine the most appropriate pricing strategy.

What is the purpose of consider establishing a price?

The purpose of consider establishing a price is to ensure that products or services are priced competitively, cover production costs, and generate profits for the business.

What information must be reported on consider establishing a price?

Information such as production costs, market research data, competitor pricing, and profit margins must be considered when establishing a price.

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