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Many SMEs are reluctant to raise
prices, fearing loss of sales. But there
is always competition. It is sometime said a
business can raise prices by up to 4% without
having any impact on sales. That 4% will go
straight through to the bottom line.
But there is more to increasing
prices than that. You need to consider the mix
of your product lines, and how well each is
doing, the markets you are in, the
marketing strategy for each market and the
pricing policy that implies - to name just a
few of the considerations.
Catalyst can help you evaluate
the issues in making the right decisions. |