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A High Price on Safety How Automakers Require Consumers to Pay a Premium for Proven Vehicle Safety Features Ethan Douglas Senior Policy Analyst, Cars & Product Safety Consumer Reports June 1, 2020Executive
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Begin by researching the market to determine the average price for the product or service you are offering.
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Consider the value and uniqueness of your product or service compared to competitors to justify a higher price.
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Highlight the premium features, quality, or benefits that justify the higher price to potential customers.
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Clearly communicate the reasons behind the higher price through marketing materials, product descriptions, or sales pitches.
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Startups or businesses with high production costs or limited initial resources may need to set high prices to cover their expenses and generate profits.
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