Definition

The way a business sets and organizes its prices, including discounts, fees, and package deals, to optimize revenue.

What to consider

  • Review how you set prices to ensure competitiveness.
  • Consider production costs and customer value.
  • Adjust pricing based on market feedback and trends.

Real world scenarios

  • After analyzing customer feedback, Julia revamped her company’s pricing structure to offer more competitive packages and boost sales.

Related terms

Entrepreneurial Finances