If there’s a reason you can maintain a low price easier than your competitors, make sure they know about it. It could prevent their starting a price war. Example: All the PR Walmart sought & received at launch on Walmart’s innovative and cost-saving warehousing … was really just a warning to its competitors. It said, “Don’t even THINK about starting a price war with us…” Source: The Tao of Pricing. See also: Pricing Psychology Report. #pricing #entrepreneurs
Imagine your profits — when you price smart!