There are only three ways to increase profits – sell more, cut costs or raise prices! The first two are difficult whilst the third one is, in of itself, easy. The real challenge is ensuring that you introduce your price increase in a way that balances the perceived value of your product or service with the amount that customers are willing the pay for it. But even if you manage this, how do you stop sales representatives lowering their prices out of fear that price increases will drive customers away?
Read more about this topic in the second pricing strategy handbook prepared exclusively by IQPC.
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