© 2011 Apptivo Inc.
All rights reserved.
Is Increasing Product Price the Right Way to
Increase Profits
The object of any business is to generate revenue, which leads to profits.
If there are no profits
the business will not be able to survive.
There are...
More
© 2011 Apptivo Inc.
All rights reserved.
Is Increasing Product Price the Right Way to
Increase Profits
The object of any business is to generate revenue, which leads to profits.
If there are no profits
the business will not be able to survive.
There are a number of reasons why profits might decline
including increased expenses, increased cost of goods, and a reduction in sales.
When profits
falter many businesses automatically look to increase the product cost with the idea this will
increase profits.
While you may get the outcome you are looking for, it can also backfire on you.
When a product
price increases even by a small margin consumers are more apt to begin to price compare and
look for that product elsewhere.
If they are successful in doing this you lose customers, which
has the opposite effect that the company was hoping to achieve.
FREE Time Tracking software at your fingertips.
There are a number of ways to increase profits for your business and not all involve inc
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