The race to competitor price matching is on, but there are no winners. What happens when competing retailers are charging the same prices for the same items? And those prices all have low margins? One of the best methods to drive sales and maintain margins is to provide unique product assortment that responds directly to customer wants.
Pricing, it can literally make or break a company. Price too high and you’ll likely lose to the competition. Price too low and you’ll degrade the value of your goods and services. Price just right, and you’ve put yourself in prime position to win the sale. Bottom line: pricing is risky business, and only those with a strong, sound, and proactive dynamic pricing strategy will come out on top.