6. How would you determine the price for this new yoga style? Consider that you

Question: 6. How would you determine the price for this new yoga style? Consider that you are opening a new yoga studio from scratch. You need a venue, at least 2 instructors, a receptionist, equipment according to the type of yoga you are inventing, and stationary. Let’s say that you are covered with the permits and taxes; you are going to do the marketing jobSee the answerSee the answerSee the answer done loading6. How would you determine the price for this new yoga style? Consider that you are opening a new yoga studio from scratch. You need a venue, at least 2 instructors, a receptionist, equipment according to the type of yoga you are inventing, and stationary. Let’s say that you are covered with the permits and taxes; you are going to do the marketing job yourself; and the venue was a former yoga studio (no renovations needed). You need to determine the price strategy and explain why this is the best option, no actual price needs to be given.
Answer: Deciding yoga class prices is a fragile equilibrium. On one hand, you need to guarantee most extreme benefit for your yoga studio. Then again, you don’t believe that your clients should feel like they were fleeced. Assuming you set the cost e…View the full answer