As difficult as it is to comprehend, a recession is a time when smart companies get creative and launch some of their most innovative products and services. Some will even revaluate their brand and execute something new, something fresh. There are a lot of things that go into a new product launch, most of which I will cover in a later blog, but one of the most important is pricing.
I feel that I can safely assume that before any launch or market introduction, a large sum of time and money goes into research and development, marketing and “beta” testing. All of these should be used as a helpful medium for discovering what your customers are willing (or not willing) to pay for - whatever it may be that you’re getting ready to offer or produce. Continue reading
