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Implementing a companywide pricing policy that all products must achieve a target profit margin of 15 percent so the firm can achieve its overall growth objectives is a profit-orientation objective.
Write a brief account on profit-orientation objective.
Setting rates for your items that ensure you'll make money on each sale is part of a profit-oriented pricing strategy. Although it might seem simple, some businesses develop price tactics to block the entry of new rivals or to gain market share. While every business wants to make money, basing pricing decisions only on maximal profit targets might cause your company a number of issues.
Profit-oriented pricing does not merely entail totaling your production labor and raw material costs before adding a profit margin. Entrepreneurs that are focused on making a profit must account for all costs associated with bringing a product to market, including shipping, sales commissions, and advertising expenses. They are referred to as overhead expenses.
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