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Making Smart Pricing Decisions

Strike a perfect balance when setting your prices to make a higher profit.

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This story appears in the December 1996 issue of Business Start-Ups magazine.

It's a question that's critical to your start-up process and a factor that will always be an issue in your operation: How much should you charge for your products or services? The dynamics of today's business environment--fluctuating costs, value-conscious customers, and strong competition--make the pricing decision more challenging than ever.

The consequences of a poor pricing strategy are obvious: Pricing too high may limit your sales, while pricing too low may limit your profits.

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