optimizes operational processes;

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Correctly set prices in the market can contribute to business growth, attract new customers and increase market share.

5. Inventory and production management. Price affects the level of demand, which in turn allows the company to manage inventory and production capacity well and effectively. The balance between supply and demand helps to avoid surpluses and shortages of products. This, in turn:

increases the efficiency of the business system;
reduces costs.
What influences pricing: main factors
The most difficult part of the pricing process is to determine what price will give chile phone number list the greatest desired effect for the business, taking into account its goals, objectives, and initial conditions: internal and external factors.


Factors are most often divided into the following global groups: internal and external:

Internal pricing factors are circumstances that are under the direct control of the business at all times. They can be promptly influenced in accordance with strategic goals .
External factors are what the company cannot control. There are macro factors, such as cataclysms, global crises, inflation. And micro factors - changing trends, elasticity of demand in a specific market, and so on.
Internal factors
1. Quality and uniqueness of the product. The level of quality and uniqueness of a new product can ultimately significantly affect the price. Products with high added value, innovative or exclusive products will be justifiably expensive. There will be demand for them in any case, since they have their own value.