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Dacey Rankins

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2025-09-02 15:43:01 -

How Do I Determine the Right Price for My Product?
Pricing is one of the most important strategic decisions any business makes. Set your price too high, and you risk losing customers to competitors. Set it too low, and you might not cover your costs or may even undervalue your product. Determining the right price is a balancing act that requires careful consideration of costs, market demand, customer psychology, and competitive dynamics. This...

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Dacey Rankins

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2025-09-04 12:09:39 -

How Flexible Should My Pricing Be?
Pricing is not just about setting a number and leaving it there. In dynamic markets where customer expectations, competition, and economic conditions shift rapidly, pricing flexibility is often the difference between thriving and merely surviving. But how much flexibility is the right amount? Too rigid, and you risk losing relevance. Too flexible, and you may confuse customers or weaken your...

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Dacey Rankins

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2025-09-04 13:21:48 -

Should I Segment My Customer Base and Price Accordingly?
One of the biggest mistakes businesses make in pricing is treating all customers the same. In reality, not all customers have the same needs, preferences, or willingness to pay. Some want the cheapest option possible, while others are happy to pay a premium for added convenience, quality, or brand reputation. This is where customer segmentation comes into play. Segmenting your customer base...

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Dacey Rankins

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2025-09-04 12:17:08 -

What Is Good–Better–Best (Tiered) Pricing?
When businesses want to appeal to a broad range of customers while maximizing revenue, they often turn to good–better–best (GBB) pricing, also known as tiered pricing. This strategy provides customers with multiple options at different price points—usually a basic version, a mid-tier option, and a premium version. It’s a proven approach across industries ranging from...

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