Blog: How to make Sure Your Pricing is Right | Wiser
Pricing strategies are the key to success for ecommerce retailers. The price of a product can draw customers or make them scoff and visit another website instead. Discovering the right price will rake in significant revenue and help pave the way to ecommerce success. There are strategies that will work, but there are also strategies you’ll want to avoid.
Why Does Pricing Matter?
Katharine Paine, founder of The Delahaye Group, Inc., put it very simply, “The moment you make a mistake in pricing, you’re eating into your reputation or your profits.”
Pricing can help build your reputation as a brand. Many people associate higher prices with products that are more valuable or useful. Low prices carry a similar relationship for many brands. A low price can hint to a customer that your product is not as supreme as its more expensive counterpart. While these indications may not always reflect the actual value of the product, they still affect consumer perceptions.
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How to make Sure Your Pricing is Right
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