Pricing – you decide what action to takePricing is how you communicate value and position your product. Business success is about profit, not revenue. You cannot pay bills, and provide paychecks, with revenue – only with profit. Again, pricing is how you make a profit. Pricing rule of thumb: never, ever drop the price. It will be too hard to get it back up.So, your sales team comes to you as the Marketing Manager and they say: “Our prices are too high, we are not competitive.”What do you do?Tip – think 4Ps. Could it be something other than price?Other points to ponder: Pricing/marketing strategy is based on the theory that certain prices have a psychological impact. Retail prices are often expressed as “odd prices”: a little less than a round number, e.g. $19.99.Does it work? Why or why not?