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Pricing strategy is one of the most critical components when it comes to the success of any business. There are many factors that go into creating an effective pricing strategy, such as market demand, competition, product differentiation, and customer behavior. However, there are times when businesses make pricing strategy mistakes that can negatively impact their bottom line. In this article, we’ll discuss some common pricing strategy mistakes to avoid and lessons to learn.

Mistake #1: Underpricing

Pricing your …

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When it comes to measuring the success of a business, there are two commonly used metrics – ROI (Return on Investment) and ROE (Return on Equity). While both metrics are essential in determining a company’s profitability, they measure different things and are used in different contexts.

ROI, as the name suggests, measures the return a business receives on its investment. It is calculated by dividing the net profit of a project or investment by the total investment cost …

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Innovation culture is a powerful way of thinking and working that has the potential to transform the way we work and think. It is a culture that encourages creativity, collaboration, and risk-taking. It is all about creating an environment that fosters innovation, where ideas are encouraged, shared, and developed into something tangible. Here is why innovation culture has become so important and how it is transforming the way we work and think.

Why has innovation culture become important?…