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THE FOUR PS
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The second "p" of marketing: The art of pricing and the key to business success

According to a study by McKinsey & Company, a 1% price increase, assuming demand remains constant, can lead to an 8.7% increase in operating profits (assuming no change in volume). This data point underscores the power of strategic pricing in driving profitability and is a testament to the potential of well-considered pricing decisions. Companies like Apple have used this approach, leveraging strong branding and compelling value propositions to justify premium pricing, which maximises their profit margins.

Stay tuned for our series on Pricing Strategy...

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