Strategic questions that should define your approach to pricing

02/9/2012 | Entrepreneur online

The prices you set for your company's products and services should be guided by your business strategy, Mark Stiving writes. Consider factors such as how your business compares with the competition and whether your company needs to foster repeat customers. "[I]f loyalty is important, you charge a little bit less so customers walk away thinking, 'I got a great deal. I'm going to come back,' " he writes.

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