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Generally, providers will have more flexibility in valuing the products or services they have unique properties, such as a guitar manufacturing orders or an MG sports car 1962 has been restored. For the common or popular, the less flexible because customers will have more choices and comparison. If providers of higher priced general market, the sales will be difficult, even if they lower the price too low, the number of temporary sales increase, but will slow down when the competitors also lower prices.
Some vendors have succeeded in maintaining high prices by adding to the product of their very normal advantages of unique, quality or novelty. This method is especially popular in the cosmetics industry.
Whether your company product pricing or service at any level, then that price is an important element in the marketing mix and will have an impact on the business performance. You can set the price for any of the following objectives: increasing the number of sales per unit of product, increase profits, or increase market share; beat competitors; or prevent competitors infringe your territory. These new products are designed according to the specific objectives of such prices.
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