5 – Pricing
It is important to look at what the impact of the current situation will have on your pricing. You will need to assess how to set pricing that meets your needs while also avoiding gouging. Begin by reviewing the questions below and then the topic-specific resources.
- Have you done an evaluation on what pricing the new market will tolerate/bear?
- Have you compared your pricing to your competitors?
- Do you need to reevaluate your payment terms?
- Have you undertaken a break-even analysis to determine whether the prices you charge are making the profit you want and need to achieve?