Pricing is always an important factor in the marketing mix but it seems to me that it’s easier to assess correctly when times are good.
In more challenging times, such as now, it becomes more difficult to gauge what’s appropriate.
Of course, testing will ultimately tell you what’s “correct” in terms of your marketing objective (which may not always be maximum revenue…at least in the short term).
But, let’s face it, most businesses don’t test as much as they should and in many cases you need a “best guess” to start with.
…couldn’t believe this item I came across today…
…like positioning.
..of persuasion.