Are you in the discounting trap?
Price discounting has become the crack cocaine of business. A brief high is followed by devastating effects on both revenue and profits. The addiction starts when managers decide to use price discounts to hit revenue targets. They assume it is only temporary, that price discounting is a quick fix to a small problem. Soon that quick fix becomes a major element of business strategy. Eventually discounting becomes the tool of first resort to fight the effects of a market downturn, intense competition, and increased sophistication of buyers.
Sound familiar?
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