Many entrepreneurs determine the pricing of their products based on internal or market related factors such as actual costs, desired profit margins and/or the prices of competitive alternatives. However, research has shown that customers are often willing to pay a different price. In this blog, I'll show you how profitable it can be to know what price your customers are willing to pay and adjust your pricing accordingly.
Although pricing is one of the most powerful profitability levers for companies, many businesses pay relatively little attention to it. In this blog, I'll give you 4 important reasons to invest at least some of your marketing resources in a professional pricing strategy.