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What Price Success?

Your prices can ensure your prosperity or doom you to failure. Choose them wisely.

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This story appears in the March 1999 issue of Entrepreneur. Subscribe »

You've got the product or service that's going to put you on the map. But before you rev up the machinery to produce this potential winner, you have to complete a task that's as important as making the product itself: putting a price tag on it.

Just how important is selecting the right price? It could mean the difference between success and failure, says John Mullins, a former entrepreneur and now an associate professor of marketing at the University of Denver. "The wrong price can put you out of business fast," he says.

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