Pricing Quotes for Understanding Inflation & Cost
February 16, 2023 6:00 AM EST
Pricing quotes have gained popularity as the prices of different items are increasing quickly.
And with inflation, the chances of getting rich quickly seem like a dream.
But the quotes mentioned in this article are inspirational and educational that can play a key role in making you an intelligent business person.
You can also share these quotes with your loved ones.
In particular, you can use popular social media sites like Instagram and Facebook for sharing pricing quotes.
Besides, we have also included tips in calculating the pricing of a product.
So, let’s start!
Tips to calculate the Pricing of a Product
Below are a few of the most popular practices and steps you need to consider when calculating the pricing of your product.
- Start by adding up the variable costs
- Include the profit margins
- Include the fixed costs per item
- Test the pricing and adjust it when required
Start by Adding up the Variable Costs
With variable cost, it is directly linked to a product’s pricing.
Estimating or determining a product’s baseline cost is essential when manufacturing it.
You need to calculate the price by dividing the amount spent on materials by the number of products manufactured.
In addition, you also need to look at the amount spent in terms of daily or hourly wages and divide it by the total number of items made.
Similarly also include the shipping cost or delivery services.
Include the Profit Margins
This is another imperative aspect when you are trying to calculate the pricing of a product.
Profit margin refers to a certain percentage of the price you earn with every sale.
However, if the profit margin exceeds your competitor’s, you must adjust it accordingly.
Include the Fixed Costs per Item
Apart from variable costs, there are certain fixed costs you need to consider when calculating the pricing of an item.
These are the costs that relate to the regular functioning of your business, including:
- Software licenses
By determining the total amount spent to meet your fixed expenses, you can calculate viable pricing to make a product profitable.
Test the Pricing and Adjust it when Required
After launching your product, consider the response of a customer.
Normally, you can make necessary changes by conducting a quarterly pricing review.
For instance, if you consider the sales are lower than what you had expected, try adjusting the price of your products.
This requires you to know and implement industry knowledge regarding determining the correct pricing.
Top 10 Pricing Quotes
Following are the top 10 best pricing quotes from our collection. You would like to read and share with your friends and family.
1. “Everything is for sale if the price is right.” — Lucio Tan
2. “Problems are the price of progress.” — Charles Kettering
3. “The price of greatness is responsibility.” — Winston Churchill
4. “Age is a very high price to pay for maturity.” — Tom Stoppard
5. “Even peace may be purchased at too high a price.” — Benjamin Franklin
6. “One man’s wage increase is another man’s price increase.” — Harold Wilson
7. “Success doesn’t demand a price. Every step forward pays a dividend.” — David Joseph Schwartz
8. “Most executives name pricing as their major challenge and major weakness.” — Phillip Kotler
9. “Too many people today know the price of everything and the value of nothing.” — Ann Landers
10. “The single most important decision in evaluating a business is pricing power.” — Warren Buffett
Pricing Quotes for Learning
Below are the pricing quotes filled with valuable information, so you would like to read and save them in your notebook.
11. “Price is what you pay. Value is what you get.” — Warren Buffett
12. “If you’re not worried that you’re pricing it too cheap, you’re not pricing it cheap enough.” — Roy H. Williams
13. “The moment you make a mistake in pricing, you’re eating into your reputation or your profits.” — Katharine Paine
14. “Pricing water delivery closer to its real costs is a necessary step to improving use efficiency.” — Norman Borlaug
15. “When the government gets involved in pricing, I don’t think it’s the right way to look at a business.” — Jamie Dimon
16. “Racing has reached the point where it is pricing the young driver, no matter his talent, out of the game.” — Carroll Shelby
17. “Pricing is the only element in the marketing mix that produces revenue; the other elements produce costs.” — Phillip Kotler
18. “Pricing is the exchange rate you put on all the tangible and intangible aspects of your business. Value for cash.” — Patrick Campbell
19. “If Americans could legally access prescription drugs outside the United States, then drug companies would be forced to re-evaluate their pricing strategy.” — Chuck Grassley
20. “The global financial crisis – missed by most analysts – shows that most forecasters are poor at the pricing in economic/financial risks, let alone geopolitical ones.” — Nouriel Roubini
Some Attention-Grabbing Pricing Quotes
These pricing quotes have a tendency to grab attention.
21. “Wine pricing is an art – like painting.” — Joe Bastianich
22. “Transfer pricing is causing huge problems in Africa.” — Mo Ibrahim
23. “The pricing of a pharmaceutical product is opaque and frustrating, especially for patients.” — Heather Bresch
24. “Overhead costs are far too high, state support is dropping, and college tuition is far too expensive. Colleges are pricing themselves out of existence.” — Thomas Frey
25. “Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.” — Daniel Kahneman
26. “The pharma pricing system was not built on the idea of consumer engagement. It was built… on market efficiencies. It was not built on the premise of consumerism.” — Unknown
27. “To ensure fair competition, there must be effective controls on currency manipulation, and monopoly pricing needs to be outlawed on such items as intellectual property, especially pharmaceuticals.” — Danny K. Davis
28. “If the world is to avoid a collision with nature – one that humanity surely cannot win – we must act boldly on every front, particularly with respect to carbon pricing and the coherence of our economic and energy policies.” — Jose Angel Gurria
29. “It’s much easier for non-Indian companies to raise capital because they have profitable markets elsewhere. You might call it capital dumping, predatory pricing, or anti-WTO, but it’s a very unfair playing field for Indian startups.” — Bhavish Aggarwal
30. “An awful lot of food is thrown away. This you can call a spillover. It doesn’t sort of enter into our economic system because it’s a consequence of running things in a highly competitive way: the free market, global pricing, and so on.” — John Sulston
Pricing Quotes Based on Experience
These pricing quotes are based on the personal experiences of people.
31. “In flush times, a rising tide of consumption can compensate for less than optimal branding, positioning, pricing or segmentation.” — John Quelch
32. “Surge pricing only kicks in in order to maximize the number of trips that happen and therefore reduce the number of people that are stranded.” — Travis Kalanick
33. “Armed with pricing information, health care consumers can punish providers that price gouge, waste resources, or engage in surprise billing by taking their business elsewhere.” — Mike Braun
34. “Unlike a normal venture fund, we never stop raising capital. We can always absorb new capital on the platform and into the next deal as long as we feel it won’t distort the allocation and the pricing.” — Naval Ravikant
35. “The whole action around a carbon pricing mechanism, or carbon tax, is what you do with the money. Both France and Washington state proposed solving climate on the backs of workers. And that’s a bad strategy.” — John Delaney
Pricing quotes about history and consumers
36. “In South Jersey, as in many places around the country, we only have one cable company to choose from, so there is no competition and therefore no incentive for good service, programming or competitive pricing.” — Jeff Van Drew
37. “International carriers need to be given a greater role in our skies on all routes like several other large countries to make our aviation industry more efficient and competitive and prevent arbitrary pricing by monopolies.” — Naveen Patnaik
38. “Historically marginalized populations have already had less access to wealth and credit building opportunities, and the continued use of credit histories to set auto insurance pricing compounds racial discrimination and exacerbates wealth inequality.” — Rashida Tlaib
39. “As I saw more and more people buying the images that were happy buyers, and people selling the images that were happy with how the market was pricing them, I started to get the sense this could be the go-to place for businesses to get the images they need.” — Jon Oringer
40. “President Trump has exposed the dirty secret of drug pricing: There is a shadowy third player in the transaction between patients and their pharmacists: middlemen who have taken a big kickback from the drug manufacturer, which may or may not be reflected in patient’s out-of-pocket costs.” — Alex Azar
Some More Share-Worthy Pricing Quotes
Pricing quotes for several topics.
41. “I never stopped dreaming of how to create a wearable to communicate with our thoughts, how to do this at consumer electronics pricing.” — Mary Lou Jepsen
42. “Briefly speaking, our conclusion is that stochastic volatility does not make a huge difference as far as the pricing is concerned if you get the average volatility right.” — John Hull
43. “At its core, all authentic growth depends on more customers wanting more of your company’s offerings. Any other drivers – pricing gimmicks, heroic marketing efforts, forced acquisitions – are ultimately destructive.” — Patrick Lencioni
44. “Micropayments are great if you use them for a product or service with certain properties. It must be one where you can get away with usage-based pricing, and where there is a strong rationale for making it cheap, yet not free.” — Nathan Myhrvold
45. “Designer pricing should hurt, but it shouldn’t kill you. You wince when you hand over your AmEx, but once you get it home, you never regret it.” — Michael Bastian
More quotes about cost to consider
46. “Because Genentech is a leading developer of cancer therapies, some doctors also fear that the company’s pricing plans for Avastin – around $8,800 a month – may encourage other companies to charge more for their own oncology drugs.” — Alex Berenson
47. “A comprehensive national energy policy is critical to our nation’s economy and our national security. Energy expenditures account for about 7% percent of our total economy and influence pricing in much of the rest of the economy.” — Heather Wilson
48. “But I think that what the government needs to do is it needs to make sure that the pricing is fair, that you don’t have monopolies out there so that people don’t have a chance to compete fairly.” — Dan Glickman
49. “In bypassing barriers between different classes, maturities, rating categories, debt seniority levels and so on, credit derivatives are creating enormous opportunities to exploit and profit from associated discontinuities in the pricing of credit risk.” — Blythe Masters
50. “Nice clothes fall apart. Nice clocks don’t work. Bits fall off the nice cooker. It is hard to accept that pricing is unrelated to quality, but it’s plainly true.” — Lynne Truss
Which One of these Pricing Quotes is your Favorite?
After you have reviewed our pricing quotes, finding your favorite quote won’t be an issue.
Here, we have included the most popular pricing quotes, making them an ideal choice for sharing with others.
We have also divided our pricing quotes into different sections depending on their respective type.
Sharing these quotes with your friends and family would be a good idea.
If you have found your favorite pricing quote, share it with us.
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