Use the correct set of tools to make sure the price is right

Setting the correct price for a product is essential, but a range of different analytical tools and approaches exist.

Use the Correct Set of Tools to Make Sure the Price is Right 

Michael LiebermanMultivariate Solutions

Price is often overlooked as one of the least interesting aspects of marketing. But as Robin C Johnston said in her article, Making Sure the Price is Right: “Price, one of the marketing mix’s ‘Four Ps’, is an often-misunderstood weapon in the marketer’s arsenal. “Too often, small- and medium-sized enterprises (SMEs) rely on Price to carry the weight for its ‘little brothers’ - Product, Place and Promotion - in the firm’s marketing battles. “This is because of many firms’ misconception that...

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