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Price Elasticities: how to use them to steer pricing decisions

ScanmarQED

What is price elasticity? Basic demand and supply theory tells us that demand will go down when prices go up. If you increase prices by 10%, will demand decrease by 10%? For example, prices increase by 5%, but after that demand drops by 10%. But by how much?

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How to calculate price elasticities?

ScanmarQED

What is price elasticity? Broadly speaking, an elasticity is the measure of sensitivity, as in the percent change of one variable compared to a change in a different variable. Looking for a pricing tool? How does it work exactly? Learn more about our solution.

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A Quick Refresher on Price Elasticity (& How It Impacts Your Strategy)

Hubspot

I know what you woke up thinking this morning: “ I sure could use a quick refresher on price elasticity. ” Understanding the price elasticity of your product/service and how it impacts your sales and business strategy is crucial to building a responsive, successful company. Price Elasticity of Demand.

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What Is Cost Plus Pricing? How Do You Use It In Sales?

Salesforce Marketing Cloud

Figuring out the right way to price your products can be tricky. Whether you’re selling software or designer handbags, your pricing strategy has a big impact on your sales success. There are a lot of ways to go about it, but if you’re looking for simplicity, cost-plus pricing might be a good bet.

Pricing 52
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The Ultimate Guide to Pricing Strategies

Hubspot

Setting prices for your products can be tough. Set prices too high, and you miss out on valuable sales. Thankfully, pricing doesn’t have to be a sacrifice or a shot in the dark. There are dozens of pricing models and strategies that can help you better understand how to set the right prices for your audience and revenue goals.

Pricing 93
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Planning Your Cyber Week Pricing Strategy? Let AI Lead the Way

Salesforce Marketing Cloud

A retailer reduced online prices by 1% every time a shopper purchased a particular item. The marketing team thought this retail pricing promotion was genius. Shoppers kept refreshing their screens, expecting others to buy and the prices to drop. But the (heavily inflated) prices didn’t budge, as shoppers continued to wait.

Pricing 52
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Margin under pressure: looking for smart software for support

ScanmarQED

To keep margins under control, manufacturers require accurate insight into sales volumes at different prices and up-to-date cost items and expenses, which is not easy. Constantly changing corona measures also significantly impact consumer confidence and product demand; this calls for good forecasting and planning.