Customers' purchasing power significantly impacts the pricing of a product. If customers have high purchasing power, they can afford to buy products even at higher prices. This allows businesses to set higher prices for their products. Conversely, if customers have low purchasing power, they may not be able to afford products at high prices. In this case, businesses may need to lower their prices to make their products affordable for customers. This is why understanding customers' purchasing power is crucial when setting prices for products.
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