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When setting a price based on customer's price expectations, key considerations include understanding the perceived value of your product or service from the customer's perspective, researching market trends and competitor pricing, and considering the customer's willingness to pay. It's also important to consider the cost of production and the desired profit margin.
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Cost-Plus Pricing – the process of simply calculating your costs and adding a mark-up. Competitive Pricing – the process of setting a price based on what the competitors' prices. Value-based Pricing – the process of setting a price based on the customer's price expectations. Price Skimming – the process of setting a higher price and bringing it down as the market evolves. Penetration Pricing – the process of setting a lower price to enter a competitive market and rising it with time.
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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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