Determining how much to charge for your product requires more consideration than just calculating your costs and adding a markup. Setting the price too high and you will lose valuable sales. Setting them too low and you will lose valuable revenues.
“How much the customer is willing to pay for the product has very little to do with cost and has very much to do with how much they value the product or service they’re buying,” says Eric Dolansky, Associate Professor of Marketing at Brock University in St. Catharines, Ont.
Traditional approaches of making pricing strategies and decisions are very labor-intensive, time-intensive and complex and are therefore often driven by hiring consultants or use of Excels which by no means provide all insights or advice on a large scale. SYMSON provides the technology and insights to make your company smarter, more flexible and more profitable by using your own data, experience and best practices.