what price should you charge in order to maximize revenues course hero

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2. What should you set the price of each couch in order to maximize revenue? Revenue: R(x) = x * p(x) R(x) = x * (875 - 5x) R(x) = 875x - 5x 2 Find R’(x), set R’(x) = 0 R’(x) = 875 - 10x 0 = 875 - 10x …

How to increase product price to increase revenue?

Oct 25, 2018 · Your revenue is $$ R=p(1000-2p)$$ In order to maximize it you take derivative and you get $$R'=1000-4p$$ So the best price is $$p=250$$ where the revenue is …

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Pricing. Course Hero offers a Basic (free) Membership as well as a paid Premier Membership. Free members can seek help from our online tutors at an a la carte price. Premier members …

Does lowering the product price always mean more revenue?

Jul 21, 2015 · 8. award: 1 out of 1.00 point You are a division manager at Toyota. If your marketing department estimates that the semiannual demand for the Highlander is Q P, what …

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1. Basic Theory

We can express the total revenue using the following simple formula: Revenue = Conversion * Price Simple Example: If your product is priced at $47 and if you have 10 sales everyday then your revenue per day would be $470. So every month you would make about 14k.

2. Test Method

You want to find out how your conversion constant changes as you change the price of the product. This will help you find that sweet spot where it yields the maximum positive result.

3. My Test Results

Time for some live test data from the tests that I performed on one of my product selling sites (these numbers are not from Tips and Tricks HQ products)

4. Things to keep in mind

Remember that you are not focusing on the “Number of sales”, you are more interested in the total revenue. So for example: lowering the prices will most likely increase your number of sales but the question to ask yourself is, “Does it actually result in a total revenue increase?”

Other Things to Consider

You should also keep in mind the life time value of a customer when pricing your products and services.