Uncertainty around tariffs is a critical challenge facing every business today. To have any chance of thriving during this kind of market disruption, your business must leverage data effectively to optimize pricing and protect profits.
There are three common approaches to inflation pricing that people depend on to weather inflation: descriptive, predictive, and prescriptive.
Only value-based pricing, however, delivers dependable ROI. Here’s why, as well as an action plan to get you started.
The Impact of Tariffs on Pricing Strategy
Right now, every business is worried about tariffs. The Trump administration has put tariffs at the forefront of its economic policy, which means the threat that a new tariff could be put in place from one day to the next with little warning has disrupted business plans worldwide. Countries around the world have threatened their own tariffs in response to the United States, making it increasingly difficult for businesses to anticipate the cost to acquire critical raw materials or sell their own goods. Even when tariffs are not enacted, fears of tariffs can drive
up costs through panic buying or preemptive price adjustments.
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