What is a fair price?

What is a fair price?

Posted: 04-Sep-2017

ITEX pricing of goods and services should be done at same as cash pricing without applying discounts. 

End of the story? Not quite.

This subject is not difficult at a retail outlet where the pricing is printed, but that's not the common ground for many businesses where "quotes" are the norm.

But the standard remains - same as cash.  Here is the section in the ITEX Marketplace Rules:

2.7 Selling Products and Services for ITEX Dollars.  You agree to sell products and services for ITEX dollars in accordance with the terms and conditions set forth in these Rules at your prevailing or normally advertised prices, but you are not obligated to match "sale" or discount pricing.  You agree to sell your listed products and services (including any necessary parts and supplies) for 100% ITEX dollars, except for tax and shipping costs, and except in the case of a single transaction exceeding $5,000 ITEX dollars.  A buyer in a transaction involving the Marketplace (a "Buyer") and seller in a transaction involving the Marketplace (a "Seller") may negotiate for a portion of the excess of the price over $5,000 ITEX dollars in a single transaction to be paid in cash.   

Yet, some members don't comply with this, and it's impossible for the management of our system to control pricing, no different than the government trying to control pricing in the cash economy.

What sets the standard?  You and the Marketplace.

A few key points in our philosophy on pricing:

  1. Keep in mind that you're participating in a network of business owners. These are big buyers and spheres of influence and should be treated as such.
  2. Why would anyone be involved in a network to generate new business, from a great customer base, only to lose them by overpricing?
  3.  Look to gain a long term, loyal customer with fair pricing.