is there an actual formula companies use to calculate what the perfect price of an object should be?
In: Economics
Is there an actual formula? Not a standard one, no.
But the market is able to send all sorts of signals, and marketers and managers and sales people are able to gauge a price. They’ll look at similar examples and similar markets and similar launches in the past and do all the research, but at the end of the day it’s just going to be what the market dictates.
Many companies, no doubt, have their *own* versions of formulas–if nothing else, they’ll see what they can do before a project is even started to make sure it’s worth it. But it’s nothing standard or official or even all that accurate.
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