Mon May 29, 2017 9:09 pm
#1537684
Pricing is a funny thing. I once took over a business that wasn't making enough money. We put prices up. The number of sales increased, resulting in a huge leap in revenue. Note I say number of sales, not just overall income, increased.
Why? Because we offered a quality product and the price needed to match that in the eyes of the customer. Setting the price low signalled a 'budget' product that people didn't want.
Why? Because we offered a quality product and the price needed to match that in the eyes of the customer. Setting the price low signalled a 'budget' product that people didn't want.