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In 2020, Starbucks implemented a value-based pricing strategy, which involved increasing their prices by 1%. This strategy was based on research and customer analysis data, which helped Starbucks determine targeted price spikes. This approach allowed Starbucks to maximize their profits, as it ensured that the prices were set according to the perceived value of their products by the customers.
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In 2020, Starbucks increased their prices by 1% (yet again). Experts from Price Intelligently analyzed the corporate giant's pricing strategy and concluded that "Starbucks is a master of employing value based pricing to maximize profits." According to the analysts, Starbucks does a great job using research and customer analysis data to determine targeted price spikes.
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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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