Pricing #1: Should I cut my price? Business is tough today.
Pricing builds or destroys value faster than almost any business action, especially in tough and uncertain economic conditions when price is a key and visible strategic choice. Conventional wisdom has firms cutting price in these circumstances. But most industries typically allow few firms to build a sustainable, low-cost business model, and once established, the very success of those low-cost competitors makes it difficult for others to duplicate.
Question of the day: Who is the low-cost producer in your industry? Can you ever charge that little and survive?
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