Pricing Strategies for Uncertain Times
Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession is not the time to panic and slash prices. He says leaders should instead reevaluate their price strategy \u2014 or develop one for the first time \u2014 to better respond to customers during the slump and keep them when the economy recovers. He shares examples of companies across a variety of industries that have created effective price strategies as well as his advice for changing prices in response to Covid-19. Mohammed is the author of \u201cThe 1% Windfall: How Successful Companies Use Price to Profit and Grow.\u201d