Stage 3. Company factors
Fixing the right price begins with a strategic perspective. First, how has price been characterized in the industry? Is there a history of price stability or anarchy? Is the industry vulnerable to price wars? Second, what is your role within the industry? Are you a price leader with a dominant influence over other players in the market? Are you a price follower, responding to the strategy of the Number 1? If there is no price leader, can you see an opportunity to assume the role? Finally, what pricing behaviours could you bring about? The questions establish a realistic context for your own pricing objectives.
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