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June 16, 2004
The price is right, or is it?
Lots of interest entries recently with some great thinking about the thorny topic of pricing: - Market pricing is the right approach, but how do you find that balance when you don't know the market yet? Business Pundit highlights the value of "soft entries" in pricing when you are first getting started. - Wizard of Ads warns against the temptation of temporary price promotions because they "produce up and down sales blips at a great cost" and marginal short term benefit. - And, apropos all the talk about dragraces, Brand Mantra, highlights the importance of doing the right work with your product and value proposition to avoid the never ending spiral of price wars. Lesson: make sure to do your ABCs across the market, competition and yourself before doing anything rash on your price and your margin.Posted by johnza at June 16, 2004 07:57 AM
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