efficient pricing

Efficient pricing is a strategy where a business sets product or service prices to reflect their true value, considering factors like costs, demand, competition, and customer willingness to pay. The goal is to maximize revenue and profitability without deterring potential buyers or underselling the offering. It involves analyzing market conditions and adjusting prices strategically to find the optimal balance—ensuring prices are competitive yet fair—so that both the company and customers benefit from a well-aligned market situation.