Repricing: meaning, definitions and examples
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repricing
[ ˌriːˈpraɪsɪŋ ]
business strategy
Repricing refers to the process of adjusting the prices of goods or services to reflect changes in the market or business conditions. This can occur due to various factors such as competition, supply chain changes, or shifts in consumer demand. Repricing strategies are crucial for maintaining profitability and competitiveness in the market. It can involve increasing or decreasing prices and can be applied to a single product or a range of products.
Synonyms
price adjustment, price change, price modification
Examples of usage
- The company is considering a repricing strategy to boost sales.
- Repricing will help us remain competitive against our rivals.
- Due to increased costs, the business had no choice but to engage in repricing.
- The repricing initiative resulted in a 15% increase in profit margins.
Translations
Translations of the word "repricing" in other languages:
🇵🇹 reprecificação
🇮🇳 पुनर्मूल्यांकन
🇩🇪 Neupreisfestlegung
🇮🇩 penyesuaian harga
🇺🇦 перепризначення
🇵🇱 przywracanie cen
🇯🇵 再価格設定
🇫🇷 reprix
🇪🇸 reajuste de precios
🇹🇷 yeniden fiyatlandırma
🇰🇷 재가격 책정
🇸🇦 إعادة تسعير
🇨🇿 přeceňování
🇸🇰 prepricing
🇨🇳 重新定价
🇸🇮 ponovna cenitev
🇮🇸 endursko verðlag
🇰🇿 қайта бағалау
🇬🇪 განახლებული ფასები
🇦🇿 yenidən qiymətləndirmə
🇲🇽 reajuste de precios
Etymology
The term 'repricing' is derived from the prefix 're-' meaning 'again' and the word 'pricing', which comes from the Old French 'priser' meaning 'to prize or to value'. The usage of 'price' in a commercial context has been traced back to the 14th century. Over time, with the evolution of commerce and economic theories, the concept of repricing gained importance. In modern business practices, especially with the rise of digital commerce and competition, repricing has become an essential strategy for retailers and service providers. As businesses strive to maximize profits and market share, the practice of repricing has evolved into sophisticated algorithms and strategies that dynamically adjust prices in real-time based on various factors.