What you’ll learn to do: Examine pricing techniques used by retailers to increase sales and profits
Are the business objectives of increasing sales and increasing profits mutually exclusive? We may think that the easiest way to increase sales is to lower prices, and that will only serve to lower profits. Conversely, will higher prices lower sales but increase profits? We have seen how retailers do the math to calculate markup, gross margin and break even. But is there a way through strategic pricing and related elements to increase sales and profits together?
- Introduction to Pricing Techniques. Authored by: Bob Danielson. Provided by: Lumen Learning. License: CC BY: Attribution