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How do pricing strategies affect profitability?

from By Danielle Wegert

Consumers desire value in purchases. They want the price they pay for a product to be equal to or less than what they feel they get out of that product. Businesses desire profit from the services or products offered. How can your business achieve profitability while also maintaining a satisfied customer base? Pricing strategies. When was the last time you reviewed your pricing strategies? Have you looked at the data to determine the success of each strategy? Many companies have pricing strategies already implemented; however, they may not be the most effective. more

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