The document discusses pricing strategies during economic downturns. It outlines common pricing pitfalls like using discounts to drive volume or lowering prices without aligning to value. It recommends reinforcing value provided, preventing commoditization, controlling discounts, and preparing the organization for price adjustments. Proactive strategies include segmenting customers and creating flexible offers, addressing unwarranted price variances, managing the "price waterfall", investing in less costly customers, and defining pricing objectives and sales break-evens.