The Pricing Paradox
In this next section we are going to look at what many people refer to as the Pricing Paradox.
The first thing to say, is that this applies whether you are a start-up or a well established business, especially in lower-margin and very competitive industries.
So What is the Pricing Paradox?
In essence the paradox is all about what risk you are prepared to take when it comes to pricing.
The key to dealing with this paradox or at least reducing it is all about gathering information.
Remember, there are no secrets in business, there is just information you don't know yet.
Pricing is all about getting as much information as you can about your market, your customers and your own internal numbers that drive your profit.