Perhaps it is more than the proposal. I'm thinking they are doing it because a Pub proposed it, and know that Dems in the state will surely go along. IOW, they think the proposal stands a very good chance of becoming legal policy.
FDA FDA deeming regulation proposals
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Perhaps it is more than the proposal. I'm thinking they are doing it because a Pub proposed it, and know that Dems in the state will surely go along. IOW, they think the proposal stands a very good chance of becoming legal policy.
And in related news:
Over 100 ill with 'food poisoning' after attending FOOD SAFETY summit | Mail Online
Sweet! Um... I mean... How unfortunate for those poor people.
Pricing your Product Using Markup
The Factors that Determine the Price of the Product or Service you Sell
There are many ways to price the product or service you sell. Many of them involve some sort of markup. You can calculate a markup based on the cost of the product or a markup based on the selling price of the product.
Factors to Consider when Setting a Product Price
There are many factors a business owner should consider when pricing a product using markup and breakeven analysis. These three may be the most important:
The cost of production
The market demand for the product
The desired markup by the business owner
The Cost of Production
Fixed and variable costs determine both the markup and the selling price of a business firm's product. Fixed costs include items such as your overhead including rent for your office or manufacturing space.Variable costs include items that change with your sales volume like labor and materials. In pricing your product, you have to first determine how much of your fixed and variable costs go into producing each unit of your product.
You can also analyze your costs in terms of direct and indirect costs. You think about the classification of your costs differently but the end result is the same. Using direct and indirect costing may make it a little easier to allocate overhead.
Making the determination of how much of your costs go into producing each unit of your product may be the most difficult calculation you make. There is a simple calculation you can make to estimate your operating costs per unit of product or service you sell.
Estimate your total fixed costs
Estimate your total variable costs
Take the sum of your fixed and variable costs and divide by your estimated total sales.
That is your cost of production per unit of your product or service. Now you have a base price for your product to work with. You know you have to sell the product for at least this amount in order to cover the costs of production. You have to be careful when making this estimation, particularly with your fixed costs. Allocating overhead is tricky and you do not want to allocate too little to each unit of your product or you will lose money on the product.
Market Demand for a Product or Service
Market demand for a product or a service is the second factor that a business owner should consider when pricing a product. The law of demand is that there is an inverse relationship between demand and price. As prices fall, demand rises and as prices rise, demand falls. Demand for your product is just as important to consider when setting a price as the costs of production.
A number of factors besides price affect the demand that a company will experience for a product. There is usually a positive, or direct, relationship between consumer income and demand. As a consumer's income goes up, so does demand for a product.
The price of related goods has an effect on demand for a product. If your firm manufactures a product that is usually used with another product, the price of the two will usually go up or down together. If two products are substitutes for each other, like Pepsi and Coke, if the price of one goes up, the demand for the other will usually go up.
The tastes and preferences of consumers, as well as their expectations, should also be considered when determining the price of your product. If a new study is released saying that a particular product is bad for your health, demand may fall for your product whether that study has been verified or not. Regarding consumer expectations, if there are rumors that an improved version of a product or service is going to be released, then consumers may stop buying the older version of the product, even if the news is only a rumor.
Determining how much to add to the price of your product based on market demand is more difficult than making that determination based on the costs of production. It's a subjective determination though it is based on market research.
Determining the Markup on your Product
There are many factors that go into calculating the markup on your product or service. Two of the most important are the costs of production and the market demand for your product. After taking those factors into account, look at your industry. Is there a standard industry markup?Dun and Bradstreet is a service where you can get industry reports that will help determine how prices are set in your particular industry.
Prices are set differently depending on your type of small business. Pricing strategy differs for the following types of firms:
Service firms
Wholesalers
Retailers
Producers
Building Contractors
Regardless of the type of small business, markup is the amount you add to the cost of your product to determine the selling price. The markup percentage is determined by the amount of your planned profit, the type of the product or service you are selling, how rapidly the product sells, and the amount of service performed by the seller.
Based on the factors discussed, determine the markup percentage that you wish to use for your product. If you wish to use 30%, for example, add the 30% markup percentage to 100%. Multiply the 130% by the cost of your product. That will give you the selling price for your product.
Link: http://bizfinance.about.com/od/pricingyourproduct/a/Pricing-Your-Product-Using-Markup.htm
The Factors that Determine the Price of the Product or Service you Sell
There are many ways to price the product or service you sell. Many of them involve some sort of markup. You can calculate a markup based on the cost of the product or a markup based on the selling price of the product.
Factors to Consider when Setting a Product Price
There are many factors a business owner should consider when pricing a product using markup and breakeven analysis. These three may be the most important:
The cost of production
The market demand for the product
The desired markup by the business owner
The Cost of Production
Fixed and variable costs determine both the markup and the selling price of a business firm's product. Fixed costs include items such as your overhead including rent for your office or manufacturing space.Variable costs include items that change with your sales volume like labor and materials. In pricing your product, you have to first determine how much of your fixed and variable costs go into producing each unit of your product.
You can also analyze your costs in terms of direct and indirect costs. You think about the classification of your costs differently but the end result is the same. Using direct and indirect costing may make it a little easier to allocate overhead.
Making the determination of how much of your costs go into producing each unit of your product may be the most difficult calculation you make. There is a simple calculation you can make to estimate your operating costs per unit of product or service you sell.
Estimate your total fixed costs
Estimate your total variable costs
Take the sum of your fixed and variable costs and divide by your estimated total sales.
That is your cost of production per unit of your product or service. Now you have a base price for your product to work with. You know you have to sell the product for at least this amount in order to cover the costs of production. You have to be careful when making this estimation, particularly with your fixed costs. Allocating overhead is tricky and you do not want to allocate too little to each unit of your product or you will lose money on the product.
Market Demand for a Product or Service
Market demand for a product or a service is the second factor that a business owner should consider when pricing a product. The law of demand is that there is an inverse relationship between demand and price. As prices fall, demand rises and as prices rise, demand falls. Demand for your product is just as important to consider when setting a price as the costs of production.
A number of factors besides price affect the demand that a company will experience for a product. There is usually a positive, or direct, relationship between consumer income and demand. As a consumer's income goes up, so does demand for a product.
The price of related goods has an effect on demand for a product. If your firm manufactures a product that is usually used with another product, the price of the two will usually go up or down together. If two products are substitutes for each other, like Pepsi and Coke, if the price of one goes up, the demand for the other will usually go up.
The tastes and preferences of consumers, as well as their expectations, should also be considered when determining the price of your product. If a new study is released saying that a particular product is bad for your health, demand may fall for your product whether that study has been verified or not. Regarding consumer expectations, if there are rumors that an improved version of a product or service is going to be released, then consumers may stop buying the older version of the product, even if the news is only a rumor.
Determining how much to add to the price of your product based on market demand is more difficult than making that determination based on the costs of production. It's a subjective determination though it is based on market research.
Determining the Markup on your Product
There are many factors that go into calculating the markup on your product or service. Two of the most important are the costs of production and the market demand for your product. After taking those factors into account, look at your industry. Is there a standard industry markup?Dun and Bradstreet is a service where you can get industry reports that will help determine how prices are set in your particular industry.
Prices are set differently depending on your type of small business. Pricing strategy differs for the following types of firms:
Service firms
Wholesalers
Retailers
Producers
Building Contractors
Regardless of the type of small business, markup is the amount you add to the cost of your product to determine the selling price. The markup percentage is determined by the amount of your planned profit, the type of the product or service you are selling, how rapidly the product sells, and the amount of service performed by the seller.
Based on the factors discussed, determine the markup percentage that you wish to use for your product. If you wish to use 30%, for example, add the 30% markup percentage to 100%. Multiply the 130% by the cost of your product. That will give you the selling price for your product.
Link: http://bizfinance.about.com/od/pricingyourproduct/a/Pricing-Your-Product-Using-Markup.htm
AInt Kharma a you know what!And in related news:
Over 100 ill with 'food poisoning' after attending FOOD SAFETY summit | Mail Online
At least Demmi is trying. I haven't see one video from PBusardo or RipTrippers about this. Grimmgreen did one. Great post btw!
Yeah, I've been happy with GrimmGreen & Dimitris/vapingreek's stuff on it so far..
As for PBusardo, I'm cutting him some slack.. Apparently real-life things took a front seat.. Besides, he tends to spend some time on whatever he's shooting a vid for, instead of just throwing it out there on YouTube.. He said his is coming up; I'm sure it will be in typical Phil fashion
As for some others, who shall go unnamed..?
Sort of says a lot about them, and they've lost a good chunk of my respect & views because of it..
There's one guy who's only been doing the YouTube thing for 2-3 months, but climbing up the ranks.. His is pretty good, too.. Came out the same day as the propsal.. Seems to get it, and I agree with about 90% of it..
Won't post the link, since the vid contains adult language.. But his YouTube channel is "Suck My mod"
(I'm pretty sure he's talking about his PV.. No offense to the moderators here
)
Twisted420 put out a rather nice one.... Gotta watch, I'll get link if I get time.
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so since the iowa senate passed a bill that ecigs are NOT considered tobacco and not going to be taxed, can the FDA just change this or are we in a somewhat good position? being not considered tobacco is huge because we are not combusting 1000s of addictive chemicals and the leaf of a plant. this is just ridiculous.. ecigs/ejuice are neither a pharm or tobacco! I hope the CASAA rips them apart in court
He gets a large part of the picture. But the stuff he doesn't get is amazing. Does he seriously think a new mod application is only going to run into the thousands? Or that he can get away w/ importing stuff from China and selling it on the black market? (Maybe he wasn't being serious about that.)
I'm sorry to say this, but it appears that long after the comment period is over, 95% of the vapers out there will have no idea how serious this really is. Until the last B&M and shuts its doors, and the final online site goes dark, most of them will continue to think that word games can be successfully played with the gov't, and/or that there's some kind of unexploited loophole out there.
Perhaps it's in human nature to believe that everything will be fine in the end. Just "think positive' and everything will be okay.
Ummm a couple things...
1. Sorry I didn't realize the language thing, my bad Ty Sonic. I'll be more aware next time.
2. I posted it for the funny in it nothing more, sorry Roger but what 420 thinks is of no real concern to me, I know how I feel about all that's going on and have made that quite clear, I understand what your saying just the same.
420's appeal is just that. He's naturally funny. Might sound strange coming from a guy "my age" but the guy just cracks me up. His unedited vid on rebuilding a Kayfun had me rolling.
Candy flavored nicotine candy is OK. It's candy flavored pretend smoke that really drives kids crazy.
It's not yelling, it's enunciation.
Why do you always whisper?
Talyon -- I watched Twisted420's video and tyvm for that suggestion. He says it like it is, no candy coating..lol
I agree with the underground black market thing that will eventually come if this ruins our present state of vape. I'm all for it.
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I doubt the government lefties and righties will help us in this but, it's worth a try. Imma email the Senator and see what response I get.
He's a righty..worth a shot. Unless I tell him I'm a Libertarian. lol
He's a righty..worth a shot. Unless I tell him I'm a Libertarian. lol
Those are two separate things (state law vs. FDA regulation.)
The states don't regulate tobacco products, they pass laws on use, marketing and sales. The FDA regulating e-liquid under its dfinintion of "tobacco product" has no effect on the states taxing it or not. The states aren't "required"by federal laws to tax tobacco products nor ban where they can be used. The only part of the proposed FDA rules that affect the state level are sales to minors and the advertising rules.
Bear in mind that even a lot of actual tobaco products, like snus and dissolvables, "are not combusting 1000s of addictive chemicals and the leaf of a plant." either.
This is what I am talking about. If Iowa can use it's own definition of "tobacco product," then so could any other state, or even Congress. FDA is just an executive agency, it is not the final authority. I could see the definition of "tobacco product" going all the way to the Supreme Court.
What is to stop clone makers from producing all the hardware that demand is wanting?
Who are clone distributors currently registered with to make sure their product is considered legal and safe? If we are actually in a war going forward, then I don't see under what scenario that a clone maker would seek compliance from the FDA. And as the demand will be high, then it'll just be like war on any other substance that is banned. Clone distributors will make lots of money where they can, and some will be nabbed in the process. TCA doesn't give anyone the authority to ban a tobacco product, so clone makers wouldn't be subject to producing a product that is banned, but just one that may not be compliant with FDA. Who is going to keep track of all that? Surely not local and state jurisdictions. Vaping anywhere in that jurisdiction (in public) would have to be illegal for that to occur, for LEOs to have a chance to determine if product is non-compliant.
In the politics leading up to this moment, I see clone distribution as highly questionable and not something to support. But if we suddenly live in a world where only people with $5 million surplus can get into the hardware market for eCigs (and become FDA compliant), I would then have a different take on cloning. I would relish in the idea that innovation thru the black market is showing how utterly ridiculous the current set up for 'control' is destined to be, and how it'll be exploited as not workable.
Cost distributors out of the authorized market, and distributors will still find a way to make a profit. This won't be the first time humanity has encountered this sort of problem.
Who are clone distributors currently registered with to make sure their product is considered legal and safe? If we are actually in a war going forward, then I don't see under what scenario that a clone maker would seek compliance from the FDA. And as the demand will be high, then it'll just be like war on any other substance that is banned. Clone distributors will make lots of money where they can, and some will be nabbed in the process. TCA doesn't give anyone the authority to ban a tobacco product, so clone makers wouldn't be subject to producing a product that is banned, but just one that may not be compliant with FDA. Who is going to keep track of all that? Surely not local and state jurisdictions. Vaping anywhere in that jurisdiction (in public) would have to be illegal for that to occur, for LEOs to have a chance to determine if product is non-compliant.
In the politics leading up to this moment, I see clone distribution as highly questionable and not something to support. But if we suddenly live in a world where only people with $5 million surplus can get into the hardware market for eCigs (and become FDA compliant), I would then have a different take on cloning. I would relish in the idea that innovation thru the black market is showing how utterly ridiculous the current set up for 'control' is destined to be, and how it'll be exploited as not workable.
Cost distributors out of the authorized market, and distributors will still find a way to make a profit. This won't be the first time humanity has encountered this sort of problem.
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