by Donna Boulieu for our 99 Ways to Make a Positive Difference in Your Pharmacy series
Pricing wisely doesn’t mean pricing the lowest (which could equate to pricing yourself right out of business). A balance of lower margin competitively priced items, and higher margin less sensitive items is a strategy that can satisfy your customers and your bottom line. Even if you’re using a pricing program, an occasional review of what’s going on in your market area can help ensure you’re still on track. Before you venture out on your market review, prepare by thinking about and/or defining the following: