A pricing policy is a set of guidelines a company follows to set prices for its products or services. It reflects the company’s strategic objectives, market positioning, and target customer base. Pricing policies consider factors like production costs, market demand, competition, and legal constraints, aiming to balance profitability with market competitiveness and customer satisfaction. They provide a framework for consistent pricing decisions, help in planning promotional activities, and ensure compliance with regulatory standards. By establishing clear pricing policies, businesses can effectively manage customer expectations and strengthen their market presence.
Discover the power of skyrocketing your eCommerce sales – Talk to an expert