Setting the right price for each product or service you offer is critical to any marketing plan.

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You must ensure that you charge customers competitive prices while still giving you the most profit to cover your supply costs and deliver year-over-year growth.

Your pricing must also reflect customers' perceived value in list of canada cell phone numbers your products or services. It should be determined by factors such as quality, features, customer satisfaction, and how difficult it is to acquire them. Whether this is accomplished through a managerial approach or multi-team effort depends on your business.

Always evaluate your competitors' prices so that they are not too low. Once you have established an effective pricing strategy, you can use methods such as discounts, special offers and loyalty programs to attract more customers to your place of business.

Download our Go-to-Market Strategy Checklist to make sure you don't miss a step as you bring your product to market.

Promotion: Utilize Different Strategies To Maximize Visibility
To close out the four Ps of marketing, we have the promotion. Everything you do for promotion is meant to bring people to your place to purchase from you. While public relations may have been an important department in the past in driving people to your storefront, the times are a changin’.

Your online presence is likely your biggest driver of promotions and buzz in today's digital age.

Traditional distribution channels included flyers, signage, radio and tv ads, magazine and newspaper ads, billboards, and word-of-mouth recommendations that would drive people to your place.