Improve Your Ability to Set Prices

Develop a pricing policy to improve your market share and returns. This activity helps you understand the likely direction of your market's future prices. It looks for opportunities to change your prices to increase your revenue. You implement your specific price changes by changing the components you use to create the price.

The activity you undertake to set prices covers Steps 19 through 23 in the Basic Strategy Guide. Step 23 includes the use of several thousand pricing concepts and examples.

Step 19: Project the direction of future prices and margins.

Step 20: Set Objectives and Pricing Guidelines to exploit near term price opportunities.

Step 21: Look for opportunities to change price to gain or save share.

Step 22: Adjust the level where price is applied according to the direction of industry prices.

Step 23: Exploit each component of price that provides an opportunity for the Company to improve its cost or margin position.

To access these steps, go to Basic Strategy Guide on the Navigation Bar.

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