In a tough economy, a majority of companies will turn their focus towards a survival mode in pursuit of every single pound of revenue they can – at any cost. Although in the short term that type of approach might be effective, it has serious long-term implications that can result in a significant margin and profit loss. Companies need to adopt best practices and more strategic approaches to obtain more business while also sustaining their margins. One effective strategy that can be used to help address the challenge is effective pricing. However, it tends to be underutilized by even very sophisticated organisations. Yet over the last couple of years, three key factors have led to pricing gaining significant momentum:

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