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Raising Prices in a Bad Economy

When currency exchange rates go down, small businesses often make mistakes in setting prices, which can lead to serious problems This article contains practical advice on what to do in such a situation We must think of inflation as an economic condition that will persist for some time and, most likely, get worse Thus, trying to “wait it out” is a bad strategy

An initial and common mistake is holding off until the last minute and then jacking up prices This will only shock your customers and result in dropped income The reason is the devastation of consumer consent about

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