The market price is the price that customers actually pay for your product. B. Monetary Price Adjustments 1. Raising or lowering the list price is not a temporary price change. Inflation can hike your costs and prompt you to raise your list price. You may decide to bring your price down for an extended period.
Competitive pressures can also mandate long-term price cuts.
C. Product Adjustments 1. You may adjust the product you offer while keeping the price constant. Marketers can reduce the amount or quality or the product offered at the same price. D. Price Discounts and Allowances 1. Discounts and allowances help you maintain relationships with organizational customers and strengthen your competitive position.