In the course, we have talked about marketing concepts, pricing strategies and tactics, costing models, price elasticity among others. But the real situation in your company goes for common sense actions. For instance, when overloaded for services or experiencing stock shortage, increased prices. We had a case study on this scenario earlier in the course. key factor changes for example, or key competitor enters or exits market. The market situation changes on to must adapt by taking the appropriate pricing measures, pricing policy reevaluation every six to nine months.

The pricing strategy cannot last forever. It's effective Goodness lies in the proper analysis of the factors that influence our business. And when a factor changes that influences our strategy effectiveness and the best we can and must do is to adopt it. If you have set a factor monitoring system in your company, then pricing policy or evaluation is to be done after you get signal from the system. If you don't have such a system, then it is recommended to do reevaluation once every six to nine months. From time to time, use a pricing policy consultant.

We all tend to become blind about the stuff that is just under our nose. The third party pricing specialist will use different lands from yours and could provide new ideas that may well benefit you. Always use common sense to adapt pricing strategy to the current situation.