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The goal of marketing promotions is to stimulate short-term sales. This dictum leads many marketers and small-business owners to reduce prices. However, as Michael Goodman explains, cost cutting is not always the best or most effective way to achieve this goal.

Sound counterintuitive? After all, if the goal is to increase sales, wouldn't cutting prices accomplish this?

According to Goodman, a senior marketing consultant and presenter for a number of MarketingProfs seminars, there are several things to consider before jumping on the price-cutting bandwagon: