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 prices to increase your revenues. You implement your specific price changes by changing the components you use to create the price.

You diagnose the opportunities you have to improve revenues with better pricing in Steps 19 through 21 in the Basic Strategy Guide.

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.

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