Why do you need to get emotion out of pricing
Image credit: Depositphotos. comA business that doesn’t follow a price matrix means the owner is emotionally invested in price. That means they will be more willing to give discounts — reducing their margins and reducing profits.
As inflation continues to impact everything, it’s important for shops to adjust their pricing. There are some areas that may be more flexible for higher markups than others. Take lug nuts, for example, said Cecil Bullard, chief executive officer of the Institute for Automotive Business Excellence. This can be charged at a higher rate because no customer will challenge the cost of a…
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