This pricing policy outlines the principles and guidelines for setting and adjusting prices for our products and services. It aims to ensure transparency, consistency, and fairness in our pricing practices, aligning with our business objectives and customer expectations.

Objectives

• Transparency: Provide clear and understandable pricing information to customers.

• Consistency: Maintain uniform pricing practices across all channels and customer segments.

• Fairness: Ensure that prices reflect the value delivered and are competitive within the market.

• Flexibility: Allow for adjustments based on market conditions, costs, and strategic considerations.

Pricing Strategy

Our pricing strategy is based on the following factors:

1. Cost-Based Pricing: Prices are determined by the cost of production, including materials, labour, overhead, and a reasonable profit margin.

2. Value-Based Pricing: Prices reflect the perceived value of our products and services to customers, considering factors such as quality, brand reputation, and unique features.

3. Competitive Pricing: Prices are set in consideration of competitor pricing, ensuring competitiveness within the market while maintaining profitability.

4. Market Demand: Prices may be adjusted based on market demand, seasonal variations, and customer purchasing behaviour.

Pricing Components

1. Base Price: The standard price for a product or service before any discounts, taxes, or additional charges.

2. Discounts and Promotions: Temporary reductions in price to encourage purchases, reward loyal customers, or respond to competitive actions.

3. Taxes and Fees: Applicable taxes and fees will be added to the base price as required by law.

4. Additional Charges: Any extra charges for optional features, expedited services, or customisations.

Price Adjustments

1. Periodic Review: Prices will be reviewed periodically to ensure alignment with cost changes, market conditions, and business goals.

2. Promotional Adjustments: Temporary price changes for sales, promotions, or special events.

3. Inflation and Cost Increases: Adjustments to account for inflation or significant increases in production or operational costs.

4. Market Conditions: Adjustments based on changes in market demand, competitive landscape, and customer preferences.

Communication of Pricing

1. Transparency: All prices will be clearly communicated to customers through our website, sales materials, and customer service channels.

2. Notification of Changes: Customers will be notified of any significant price changes in advance, wherever possible.

3. Detailed Invoices: Invoices will provide a detailed breakdown of prices, taxes, and additional charges to ensure clarity.

Compliance and Ethics

1. Legal Compliance: All pricing practices will comply with relevant laws and regulations.

2. Ethical Practices: Prices will be set and adjusted in a fair and ethical manner, without misleading or exploiting customers.

Customer Support

1. Inquiries and Disputes: Customers can contact our support team for any pricing-related inquiries or disputes.

2. Feedback: Customer feedback on pricing will be actively sought and considered in future pricing decisions.

This pricing policy is designed to ensure that our pricing practices are fair, transparent, and aligned with our business objectives and customer needs. Regular reviews and adjustments will be made to maintain the effectiveness and relevance of this policy.