Management

Pricing involves determining the exact value of a product and finding the point at which the product's profit margin and sales volume multiply to the maximum result. Additionally, this price point must be one that delights and encourages customers to purchase.

Within this carefully determined pricing, relentless effort is needed to maximize profits. At this juncture, ingrained beliefs and conventional wisdom about costs, such as material and labor costs, should be completely discarded. It's vital to strive to produce a product at the lowest cost while fulfilling all given requirements, such as specifications and quality.

Pricing is the job of a business manager, and reflects the manager's character.

Paraphrased from the 21st Seiwajyuku World Convention (July 18, 2013)