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Best New Product Pricing Practices

By Jerold Bernstein, President, Price Improvement Team LLC, Ballwin, MO
One of the most challenging tasks a marketing organization will face involves setting the "right" price for a new product.New product pricing is complex. It is important to use a process that breaks down the task into manageable elements.An effective process will integrate these elements while reducing risk and increasing confidence in the important decisions to be made.