“How do we know how high we can go when setting our prices?”
Assume for a moment that your business has awesome pricing power. Your customers always pay the premium prices you charge, without question or pushback. What would constrain your prices on the high side?
Steve was a character, a car nut, which might explain why he loved and tolerated that pony car. A ’66 Ford Mustang convertible, shined till its glossy red paint seemed thin in spots. Comfortable enough inside, with off-white leather seats and matching gearshift knob. I hopped into the shotgun seat for a drive, top down, through the Catskills’ twisty scenic roads. Steve q
With demand still well below pre-recession levels in many industries, most companies have slashed costs. Now what? What can companies do to grow sales even if industry demand remains soft?
Here are some brief thoughts on two classic strategies to boost sales and profits. Which to choose may depend on your company’s source of competitive strength.