While pricing strategy is always important

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The value customers perceive in a product or service can have a much greater impact on their purchasing decisions. Different Approaches to Pricing¬† company's marketing and sales strategy. Let's explore three main approaches: cost-based pricing, market-based pricing, and value-based pricing: Description Example Main Advantage Main Difficulty General evaluation Cost Based Pricing It is based on the total cost of production adding a profit margin. A t-shirt that costs $5 to produce sells for $10. Easy to understand and implement. Pricing is a critical component in any You can ignore customer perceptions of value and changing market conditions. It's a good starting point, but it may not adequately¬† South Africa Phone Number Data reflect the value the customer perceives. Market Based Pricing It focuses on the selling price of similar products…
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