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A company's pricing strategy can significantly impact its competitive position in the market. If the pricing is too high, it may drive away potential customers to competitors offering similar products or services at a lower price. On the other hand, if the pricing is too low, it may not cover the costs of production, leading to losses. Moreover, a low price can also create a perception of low quality. Therefore, it's crucial to set a price that reflects the value of the product, covers the costs, and is competitive in the market.
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With this slide, communicate your company's pricing policy. To create an effective policy, determine your goals, run a market pricing analysis and conduct thorough target audience analysis. With this slide, list all price determinant factors. Include production costs, demand for product, prices of the business' competition, customers' purchasing power, legal and government regulations, objective and marketing strategy. Use this slide to protect your initiative from failure and educate your team about the most common pricing mistakes, which are: trying to be the lowest price provider, mixing your pricing message and underestimating real costs.
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Take the most advantageous pricing approach to increase profitability of your organization. Use our Pricing Strategies presentation to outline factors...
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