Some effective pricing tools for evaluating cost, feature, and market share include cost-based pricing tools, value-based pricing tools, and competitive pricing tools. Cost-based pricing tools help businesses determine the cost of production and set a price that covers the cost and ensures profit. Value-based pricing tools evaluate the features and benefits of a product and set a price based on the perceived value. Competitive pricing tools analyze the market share and prices of competitors to set a competitive price.
Need to evaluate the best pricing strategy for a product? This Pricing Strategy spreadsheet includes...
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