Raising prices?

[raid]

At what point do I raise prices? Is it based off of satisfaction % so at 100% customers are willing to pay more? Do i just never raise prices? I currently have 2 gift stores and 1 supermarket, all have prices slightly above market value and the satisfaction is at 100%. I have not tried raising prices since.

Not looking for specific prices to put stuff at, just want to know when. Thanks

[Eye Aye]

When you open your first store to sell goods, on that first day raise by 10% if your in the Garment District or Murray Hill.
Or you Keep raising prices until they drop just below 100% in the Bizmaster Insight Panel.

[SmlehliW]

my judges in an 50er Law-Office (all 100% - Midtown 47traffic) get price increased from $225 > $1200

i am testing, how much can increase an 1000sqm-shop in midtown. In the moment the customers allow/accept up to 60% when everything is on maximum.

[Carolynne]

You can mark-up your prices immediately after opening your store for the first time, the customer satisfaction will increase dynamically as long the store meets all their standards.

Once the customer's opinion on your store pricing reaches 100% you can start experimenting with pricing until it drops. When it drops you'll know where the sweet spot is.

100% Customer satisfaction means highest potential in quantity sales. If the products are too expensive according to customer's satisfaction then you'll sell less and lose customers, if the products are too cheap, you'll sell more but profit less from it.

Selling products at market value will always yield 100% satisfaction since you're selling all your goods for extremely cheap.

Do keep mind of what district you're in. High income district allows for a much higher mark-up than a low income district.
Garment District being the lowest income I always mark-up prices at 10%.
Midtown being the highest income I tend to mark-up at approximately 152.5%-157.5%, it varies between products.

It's some trial and error I had to do until I reached their sweet spots.
There's also a cheat sheet[docs.google.com] with recommended prices for each product and corresponding districts if you'd prefer that instead.

[raid]

Originally posted by Carolynne:

You can mark-up your prices immediately after opening your store for the first time, the customer satisfaction will increase dynamically as long the store meets all their standards.

Once the customer's opinion on your store pricing reaches 100% you can start experimenting with pricing until it drops. When it drops you'll know where the sweet spot is.

100% Customer satisfaction means highest potential in quantity sales. If the products are too expensive according to customer's satisfaction then you'll sell less and lose customers, if the products are too cheap, you'll sell more but profit less from it.

Selling products at market value will always yield 100% satisfaction since you're selling all your goods for extremely cheap.

Do keep mind of what district you're in. High income district allows for a much higher mark-up than a low income district.
Garment District being the lowest income I always mark-up prices at 10%.
Midtown being the highest income I tend to mark-up at approximately 152.5%-157.5%, it varies between products.

It's some trial and error I had to do until I reached their sweet spots.
There's also a cheat sheet[docs.google.com] with recommended prices for each product and corresponding districts if you'd prefer that instead.

Thank you. Did some testing and then went and checked the cheat sheet and I was only a few dollars off of the cheat sheet prices.