Common Pricing Traps to Avoid

by John Hogan

It is essential for companies to develop better pricing strategies for a larger and more complex worldwide marketplace. Our research shows that there is less than a 50% chance that new products will hit their volume and profit goals. Though there are numerous reasons for these failures, ineffective pricing strategies are one of the most overlooked aspects of new product development and marketing campaigns. There are three common pricing traps that can derail new consumer or business-to-business product marketing success. Avoiding these traps is critical for firms to drive new earnings and growth. ... cont'd

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