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In the dynamic world of business, pricing plays a crucial role in determining the success of a product or service. Finding the right balance between value creation and pricing strategy can be the defining factor between a thriving business and one struggling to stay afloat. In this episode Sean Tepper sits down with Patrick Meegan the Managing Director at Investor Group Services. Pat explores key strategies and insights into pricing, with a focus on helping entrepreneurs navigate the complex landscape of setting prices effectively.
One of the fundamental aspects of pricing strategy is understanding the buyer. By delving into what customers value, their willingness to pay, and the competitive landscape, businesses can tailor their pricing to align with customer expectations. Conducting market research and gathering direct feedback from customers can provide valuable insights into setting the optimal price point for a product or service.
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