You need to know the four types of competition.
Intensive price competition in most professional service industries is now a way of life, from hotels to airlines, from car rentals to telecommunications and from law firms to CPA firms.
MORE: How to Leverage Demand In Your Pricing | The Four Phases of Service Life | What We Know about Pricing Strategies | Make the Most of Your Marketing Mix | Marketing Orientation Is What Firms Need | When Hourly Billing Hurts Profits
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An important factor affecting a CPA firm’s pricing policies is competition. As clients and prospects become more educated about CPA firms in their market, more sophisticated about the services offered, and more cost-conscious, pricing becomes more important and more firms stress the price of their services, especially in competitive request-for-proposal situations.
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