{"id":2186,"date":"2022-11-15T23:05:17","date_gmt":"2022-11-15T23:05:17","guid":{"rendered":"https:\/\/www.smartsims.com\/support\/?post_type=ht_kb&#038;p=2186"},"modified":"2023-09-15T02:57:49","modified_gmt":"2023-09-15T02:57:49","slug":"retail-price-in-mikesbikes-advanced","status":"publish","type":"ht_kb","link":"https:\/\/www.smartsims.com\/support\/article\/retail-price-in-mikesbikes-advanced\/","title":{"rendered":"How to determine a Retail Price in MikesBikes Advanced?"},"content":{"rendered":"\n<p>In MikesBikes you run a bicycle manufacturing company. Your company sells its bikes to retail stores at a <a href=\"https:\/\/www.smartsims.com\/support\/article\/wholesale-price-definition\/\">Wholesale Price<\/a> who then on sell these to customers at the <strong>Retail Price<\/strong>. As the manufacturer you set the <strong>Retail Price<\/strong> (the dollar amount) for each of your bikes.<\/p>\n\n\n    \t\t<div class=\"hts-messages hts-messages--info   hts-messages--withicon \"   >\r\n    \t\t\t    \t\t\t    \t\t\t\t<p>\r\n    \t\t\t\t\t<strong>Retail Price = Wholesale Price \u2013 Retail Margin<\/strong>    \t\t\t\t<\/p>\r\n    \t\t\t    \t\t\t\r\n    \t\t<\/div><!-- \/.ht-shortcodes-messages -->\r\n    \t\t\n\n\n\n<p><\/p>\n\n\n\n<p>To determine a competitive or strategic Retail Price you should consider:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Price sensitivity in the market<\/strong>&nbsp;(see the <em>Market Research<\/em> report); and<\/li>\n\n\n\n<li><strong>Price of your competitor&#8217;s products<\/strong> (see the <em>Market Summary<\/em> report).<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>In MikesBikes you run a bicycle manufacturing company. Your company sells its bikes to retail stores at a Wholesale Price who then on sell these to customers at the Retail Price. As the manufacturer you set the Retail Price (the dollar amount) for each of your bikes. To determine a&#8230;<\/p>\n","protected":false},"author":3,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"ht-kb-category":[17],"ht-kb-tag":[],"class_list":["post-2186","ht_kb","type-ht_kb","status-publish","format-standard","hentry","ht_kb_category-mikesbikes-advanced-simulation"],"_links":{"self":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb\/2186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/comments?post=2186"}],"version-history":[{"count":4,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb\/2186\/revisions"}],"predecessor-version":[{"id":2361,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb\/2186\/revisions\/2361"}],"wp:attachment":[{"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/media?parent=2186"}],"wp:term":[{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb-category?post=2186"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/www.smartsims.com\/support\/wp-json\/wp\/v2\/ht-kb-tag?post=2186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}