McKinsey (a top global consultancy firm) calculates that, on average, a one per cent reduction in price typically produces an 11 per cent reduction in profit. Even more worryingly, that a one per cent price-cut needs a 3.5 per cent increase in volume to maintain profits.
Calibrate, intelligently, the right pricing according to your business strategy: growth or defence of market share, short term versus long term profits, low cost versus premium, etc.
At FENCI we can help you craft and adopt a pricing strategy relevant to your business and within the context of your industry. Be smart with your pricing; have a pricing strategy.
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