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Set Pricing


4. IMPROVE

Step 4. Develop New Approaches to Pricing

The Improve Pricing section of StrategyStreet helps you use pricing to improve your profitability by increasing your revenues from customers. (
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) You might improve profitability by raising prices to increase revenues and the gross margins in your business or by reducing prices in order to sell or retain more sales volume and improve operating margins with better economies of scale.

When either raising or reducing price you will make three sequential choices:

  • Choice 1: Select your objective in the price change

  • Choice 2: Isolate the segments receiving the low price

  • Choice 3: Use the components of price to further limit the extent of the price change

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