How can projected sales and real-time sales data be used together in pricing strategies?

Projected sales and real-time sales data can be used together in pricing strategies to assess how projections match reality. This can be visualized using a price sensitivity graph. The graph tracks units sold on the y-axis and price on the x-axis. By comparing projected sales with real-time sales data, executives can evaluate the effectiveness of their pricing strategies, such as price skimming, and make necessary adjustments to maximize profit margins.

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Execs can also use a price sensitivity graph to visualize how a strategy like price skimming affects the number of units sold over time. Units sold are tracked on the y axis, and price is tracked on the x-axis. This could be used with projected sales, real-time sales data, or both to assess how projections match reality. (Slide 15)

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Pricing Strategies (Part 2)

Need to improve your product pricing to maximize your profit margin? This Pricing Strategies Toolbox includes some of the most useful and common prici...

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