Understanding the effect of suppliers and customers on price can help a business in several ways. It can help the business to set competitive prices, negotiate better deals with suppliers, and identify potential opportunities for cost savings or price increases. It can also help the business to anticipate changes in the market and adjust its pricing strategy accordingly. Furthermore, it can provide insights into customer behavior and preferences, which can be used to improve product offerings and marketing strategies.
Evaluate your position in the market and familiarize how you compare against competitors to do more...
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