Ignoring price sensitivity when setting prices can lead to several potential consequences. It can result in a decrease in sales volume if the product is priced too high for what customers are willing to pay. This can also lead to a loss of market share if competitors offer similar products at lower prices. Additionally, it can lead to a decrease in customer satisfaction and loyalty if customers feel that they are not getting good value for their money. Finally, it can result in missed opportunities for maximizing profits if the product is priced too low and customers would have been willing to pay more.
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