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One of the fundamental misconceptions about pricing research is that research will automatically present a price. In reality, determining the numerical price is secondary to the cardinal rule of pricing – Know Thy Customer!! Once one has a full appreciation of the customers’ expectations, gained through pricing research, it is possible to apply this information to establish prices, but not a second before!
One of the fundamental misconceptions about pricing research is that research will automatically present a price. In reality, determining the numerical price is secondary to the cardinal rule of pricing – Know Thy Customer!! Once one has a full appreciation of the customers’ expectations, gained through pricing research, it is possible to apply this information to establish prices, but not a second before!
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