The ABCs of Pricing

February 1, 2011  |  

(Inc.) — Pricing strategies and methodologies are a good bit of science coupled with an equal amount art. To make sure your price is right, you have to continually balance your own cost structure and profitability with customer perceptions of value and your competitors’ tactics. The good thing when it comes to pricing is that a lot of the work is done for you if you know what to look for. When searching, however, you have to understand that the buying process isn’t as rational as our old econ professors or common sense would have us believe. It’s irrationalpredictably so.

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