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When re-pricing what all one must consider in order to stay competitive in the market ?

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2 Answers
  1. Jackie Palmer
    Jackie Palmer

    ActiveCampaign VP Product Marketing | Formerly Pendo, Demandbase, Conga, SAP • 3y

    I've found that it is a best practice to evaluate your prices at least once a year for most products. If your market changes very rapidly, you may consider bi-annual or quarterly pricing reviews but for most annually is great. You need to consider both outside conditions, like inflation, global/local economic changes, new competitive entrants, market consolidation or fragmentation, etc, as well as internal conditions. These can include: Have you released a lot of new features in the last year th ...Read More

    1,669 Views
  2. Morgan Joel
    Morgan Joel

    Intuit Fmr Head of Product Marketing, QuickBooks Live • 2y

    When determining if a product or service needs to be re-priced within your portfolio, below are some factors that I would consider: Customer Value: Evaluate the perceived value of your products or services among customers. Assess how price changes may impact the value proposition of the offering and consider adjustments that enhance customer value while staying competitive. Demand Elasticity: Consider the elasticity of demand for your products or services. Understand how customers will react to ...Read More

    726 Views

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