How to manage the prices of your products in Magento
To change the price of a product, go to your Magento admin area > Catalog > Manage Products. Click on the product the price of which you want to modify and then click the Prices option available in the left menu.
And here is an explanation for the most important options above:
- Price - the price at which you want to sell the product; this is the only required field here and, of course, the most important
- Cost - this represents your cost for purchasing the product
- Tier Price - through this option you can set discounts based on the quantity of products purchased
- Special Price - through this option you can set promotional campaigns - discounts which are valid only within the period defined in Special Price From Date and Special Price To Date; this option is not affected by the quantity of purchased products