A well-defined pricing strategy can significantly impact the lifetime value (LTV) of a customer. It can help in attracting and retaining customers, maximizing profits, and improving market share. A competitive pricing strategy, for instance, can make a product or service more appealing to customers, thereby increasing their LTV. However, it's important to balance competitive pricing with the quality and value of the product or service to ensure long-term customer satisfaction and loyalty.
Need to evaluate the best pricing strategy for a product? This Pricing Strategy spreadsheet includes...
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