UPDATE PRICE

Definition: The act of revising or adjusting the cost of a product or service to a new or current value.

Synonyms: Price Change, Price Update, Update Cost, Cost Adjustment, Price Modification

Usage Examples in Sentences

Bakeries
#1
The bakery had to update the price of cupcakes due to the rising cost of ingredients.

Usage Example in Conversation

A: Good morning, Sarah. I noticed our sales have been strong for the past quarter. I think it's time to update our prices to reflect the market demand.B: Good morning, John. I agree, it's a good idea to reassess our pricing strategy. Do you have any specific changes in mind?A: Yes, I've analyzed the data, and I think we should increase the price of our premium package by 10%.B: That sounds reasonable. Our premium package offers unique features that justify the increase. How about our standard package?A: I suggest keeping the standard package price unchanged for now. However, we can offer a limited-time promotion to encourage more sign-ups.B: Great, let's update the premium package price by 10% and plan the promotional offer for the standard package. I'll inform the marketing team to start preparing the materials.
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