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Price yourself/something out of the market

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LampPro Tip 1/3
Market CompetitionPlay
Consider competitors' pricing to avoid setting a price too high. SlideDue to competition, the store must not price its products out of the market.
LampPro Tip 2/3
Customer PerceptionPlay
A high price may imply luxury quality or exclusivity to some consumers. SlideDesigner brands can price goods out of the market as a strategy to appear exclusive.
LampPro Tip 3/3
Economic ChangesPlay
Economic factors like inflation can cause prices to increase unintentionally. SlideInflation might lead to businesses inadvertently pricing themselves out of the market.