When it comes to willingness to pay, things change and that’s a fact. Take the purchases that you make.

Over the time I have worked in this field, I have lost count of the number of companies that continue to make mistakes with their pricing strategy.

In the first article, I covered the topic of “pricing to the competition.” In this article, I want to concentrate on how “cost” can affect your pricing strategy and the pitfalls that it entails.

Over time, I have observed many companies making the same mistakes with pricing. Put simply, most of these mistakes can be easily avoided by gaining the knowledge of knowing they are just that—mistakes.