optimum pricing

Optimum pricing is the strategy of setting the best price for a product or service to maximize a company's profit. It involves finding a balance—setting a price high enough to generate good revenue but not so high that it discourages customers. Factors considered include production costs, customer willingness to pay, competitors' prices, and overall market demand. The goal is to choose a price point where the additional revenue from selling one more unit equals the additional cost, ensuring the business earns the maximum possible profit without losing customers or market share.