Pricing – Where is It Heading?

Article argues that pricing has traditionally played a tactical rather than a strategic role. Most companies based their prices on cost-plus considerations or competitive comparisons, not concrete strategic goals. But the role of pricing is rapidly changing. To take advantage of these changes, CEOs and managers should consider the following five steps:
1 Link pricing more closely to shareholder value
2. Give pricing more power in the corporate hierarchy
3. Avoid aggressive pricing
4. Remember that Internet pricing favors the buyer rather than the seller
5. Treat pricing as a “science” similar to finance

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