Pricing Is Management
Pricing dictates the success or failure of management. There are infinite levels of pricing, ranging from a paper-thin profit margin that maximizes units sold, to higher price points that limit sales.
It is very difficult to forecast how many units will sell at which price or how much profit will be generated. Therefore, we need to accurately assess the value of our products and find the one point at which "units sold" multiplied by "profit margin" creates the highest total profit.