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What are the 3 C’s of pricing strategy?

The 3 C’s of pricing strategy encompass: 1. Cost: Considering the costs involved in producing and delivering the product or service. 2. Customer: Understanding customer demand, value perception, and price sensitivity. 3. Competition: Evaluating competitors’ pricing strategies and market positioning. These components help businesses set prices that cover costs, appeal to customers, and remain competitive. Balancing these factors is crucial for maximizing profitability while ensuring market competitiveness and customer satisfaction.

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