Retail Price is the dollar price retailers sell your products to customers. The distributor receives a percentage of the Retail Price, known as the Retail Margin, leaving you the Wholesale Price.
Wholesale Price = Retail Price – Retail Margin
Setting a strategic Retail Price is a priority decision which must consider:
- Price sensitivity in the target market (see the Market Research report); and
- Price of your competitor’s products (see the Market Summary report).
Video: How to Price a Product
