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.

The activity you undertake to improve pricing includes brainstorming in Steps 22 and 23 of the Basic Strategy Guide using several thousand pricing concepts and examples.

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 costs or margins.

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