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Many business owners lament they sell a commodity, or the “market” sets their price. Yet empirical evidence proves otherwise. Most customers have a range of acceptable prices they’re willing to pay. How do you search that range? What’s the most effective pricing strategy to capture the value from the high-end, and the low-end, of that range? Ed and Ron will discuss two specific strategies on this show: Peter van Westendorp’s Price Sensitivity Meter, and the Barron Joseph von Neinbach Model.
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