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Legal and government regulations can greatly affect a company's pricing policy. They can set minimum or maximum prices for certain goods or services, impose taxes or tariffs, and set standards for pricing transparency and fairness. Companies must comply with these regulations or face penalties, which can include fines and even the revocation of their business license. Therefore, when setting their pricing policies, companies must take into account not only market factors like supply and demand and competition, but also any relevant legal and government regulations.
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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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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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