Bitcoin Forum
November 14, 2024, 07:12:56 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Up to how much are you willing to markup a product and still consider it moral?  (Read 141 times)
Sherwood_Archer (OP)
Jr. Member
*
Offline Offline

Activity: 126
Merit: 3


View Profile
September 20, 2018, 10:57:37 AM
 #1

Reading  this https://www.cnn.com/2018/09/11/health/drug-price-hike-moral-requirement-bn/index.html made me think, what's the markup percentage do you think is just right? Personally, I think what this pharma exec is just pure bull and a 400% raising of the price is just way too much.
Coinblaze
Jr. Member
*
Offline Offline

Activity: 49
Merit: 1


View Profile
September 20, 2018, 12:51:51 PM
 #2

The problem is not with the price hikes but with the pesky things limiting competition like patents and lobbyists that ensure a monopoly. If people have buying choice then companies are free to charge with what they can get away with, but it's really unfair if people have no other choice but to pay a higher price.

As for this particular article, the sad truth is that it was the generic brand that raised their price, "because they could." Well, after all, they are a business, so I agree with that. The market determines the price. If there are no other competitors, then the price will be high. But hopefully the high price will attract more people to manufacture the generic drug, so the price will eventually go down.

The real problem is the healthcare system in the US, I think everywhere else in the world the same drugs are really cheap, it's insane what pharma companies can get away with in the US.
UconBit
Jr. Member
*
Offline Offline

Activity: 112
Merit: 2


View Profile
September 20, 2018, 01:54:18 PM
 #3

That is a very horrible person or should I say company. But to answer your question, it depends on the product that you are selling. Some small business owners that I know mark up their products to 200%. This is the reason why they can still give discounts of up to 50% and still make some money.
Sherwood_Archer (OP)
Jr. Member
*
Offline Offline

Activity: 126
Merit: 3


View Profile
September 21, 2018, 12:40:25 PM
 #4

The real problem is the healthcare system in the US, I think everywhere else in the world the same drugs are really cheap, it's insane what pharma companies can get away with in the US.
Exactly this. I asked an Asian friend how  much those kind of drugs are in their country and they said that it's really affordable compared to what we pay. It's mad. I would understand if the cost for manufacturing them is really high or if it is a cure for a very rare disease. It is not. So basically they are just cashing it in.
Sherwood_Archer (OP)
Jr. Member
*
Offline Offline

Activity: 126
Merit: 3


View Profile
September 21, 2018, 12:41:49 PM
 #5

That is a very horrible person or should I say company. But to answer your question, it depends on the product that you are selling. Some small business owners that I know mark up their products to 200%. This is the reason why they can still give discounts of up to 50% and still make some money.
I think that that is a reasonable markup. After all they spend in raw materials plus utilities plus rent and all the other things for their products plus the salary of their people, if any.
raatnak
Newbie
*
Offline Offline

Activity: 185
Merit: 0


View Profile
September 26, 2018, 09:08:36 AM
 #6

If your company is the only one in your sphere - you make your rules. And I guess its fair from this companies side to make your product overpriced since people will buy it anyway.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!