The major goal of every business personnel is to make profits. Without profits, nobody will really want to venture into the world of buying and selling and treat it as a profession.
Due to how financially prosperous a business can make an individual to be, many people are currently venturing into buying and selling. Some people sale lands and houses (real estate), some trade crypto, stocks, and forex, some trade food stuffs and cosmetics while some deal with cars and other mechanical goods. Irrespective of what is being sold, the end point is to make some profits from the business.
We live in a world where greed rules. People want to bag every profit possible. Somebody will buy something for five naira and resale it for fifty naira, thus, bagging forty five naira profit.
Inarguably, it's a nice and fair thing to make profit from resold goods, but then, when the profits are too much, some people may view it not as profit, but as greed and reaping off people.
Many people have found many different ways to make some extra profit for their business. Instead of selling in a fair price and making a decent profit, they buy low and resell at a very high price. Such things happens a lot in my country. Maybe they happen in other countries too but I witness them mainly here. Sometimes, the business owners trick somebody into buying something they didn't really want to buy.
This post is an entry for hive learners prompt, Price range. In this post, I will share a story of one influencer that is currently vocally attacking another influencer publicly because of the price of their goods. I will also share my perspective on price range in business.
The release of the iPhone 17 has caused a few disappointments in the aspect of people's expectations. I've heard people say that they are disappointed because a feature they expected was not in the phone. But then, though I don't really like iPhones in general, I think iPhone 17 is nice.
With the release of the iPhone 17, the doors of opportunities were opened for smart business minded people to take advantage of. An influencer in Nigeria called Blord saw the opportunity and took it.
He noticed that the iPhone xr's panel fits well in the iPhone 17's case, so, he took opportunity of it. He used the iPhone 17s case to cover the iPhone XR and shipped it down to Nigeria to be sold at a price of 450k Naira. This is around 300 bucks or so. He actually told the country that it's not iPhone 17 that is in the phone case, rather its iPhone XR. I think people were cool with it, however, one person that's not cool with this business idea is another influencer called Very Dark Man (VDM).
VDM went to China and found out that Blord was making about 170k Naira in profit from this business and he's pissed about it. 170k in his perspective is too much. Me too, I think it's actually too much, but then, this is business.
VDM came online and exposed the entire business to Nigerians. He showed the process of transferring an XR to 17, and he also shared the total money spent, including shipping to Nigeria. Everything rounded up to 280k Naira, leaving Blord who sales at 450k naira with 170k naira in profit.
For context, it's like buying something for 280 USD and selling to the public for 450 USD. that's about 170 USD profit.
Honestly, for one transaction, I think that's quite a lot of profit. True, business is centered around profitability, but then, this is too much profit from just one product. Just 10 phones will get him over a million naira profit. Say around 1.7m naira profit. Imagine selling a hundred phones or even a thousand.
Even though I think the profit is too much, I also believe that this is business and in the world of business, everyone has the right to set their price as they want. Its the people that will choose what to buy and what not to buy.
I don't really think that there should be a price cap for business to follow. I think it's more fun to see business compete with each other in a healthy way. They should set their price as they see fit and let the consumer choose what they want.
Thank you for reading.
