Why you should aim high when setting your prices

04/16/2013 | Wall Street Journal, The

It's better to err on the high end when you're first setting a price for your products, according to Steven Dupree, general partner at Richmond Global. "Although it's hard to increase your prices once they're in circulation, you can readily reduce them," he writes. Afterward, you can test lower prices by offering discounts and adjust your strategy as necessary, he writes.

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