What are the reliable sources that help Jame decide the product’s pricing strategy?

The current product is making a profit; however, the Sale Manager advises James, a Product Owner, to reduce the price to attract more customers. The Financial Director argues that this may harm the company revenue.

What are the reliable sources that help Jame decide the product’s pricing strategy? (choose the best two answers).
A . Company profit reports
B. Competitor’s pricing
C. Sale channel strategy
D. Market share

View Answer

Answer: B,D

Explanation:

As evidence of organizational agility, the Evidence-Based Management approach measures value and provides ways to measure and improve the ability to deliver value. This approach allows organizations to make rational, fact-based decisions, elevating conversations to empirical evidence, logic, and insight from preferences and views.

It will help you evaluate the unreleased value of the product by measuring market share and competitor pricing. It will help you to make more informed pricing decisions using these data points.