Kotler's Matrix enhances a business's pricing strategy by providing a structured approach to assess the value of each product in terms of quality and price. It allows businesses to plot their products from low to high across these two dimensions. This helps in identifying the right pricing strategy for each product based on its position in the matrix. It can reveal insights about price sensitivity and help businesses choose the right pricing for the right product, thereby maximizing their profit margin.
Need to improve your product pricing to maximize your profit margin? This Pricing Strategies Toolbox...
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