Customers' purchasing power plays a significant role in determining the price of a product. If customers have high purchasing power, they can afford to buy products even at higher prices. This can allow a company to set higher prices for their products. Conversely, if customers have low purchasing power, they may not be able to afford products at higher prices. This could force a company to lower their prices in order to make their products affordable for customers. Therefore, understanding customers' purchasing power can help a company set prices that are both profitable for the company and affordable for customers.
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