I know what you woke up thinking this morning: “I sure could use a quick refresher on price elasticity.” If you’re shaking your head saying, “Yes, Meg. Yes!” then I’m so happy to have met your needs with this miraculous piece.
Understanding the price elasticity of your product or service and how it impacts your sales and business strategy is crucial to building a responsive, successful company. It goes a step or two beyond identifying the going rate for your offer and is a more strategic approach to pricing.
Brush up on the basic economics of price elasticity below and,
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