Monday, November 1, 2021

How low can you go?

Your business exists to make money. Profits keep you going. You already know that. If you think lowering your price in the hope of making it up in volume, think again.

McKinsey in a 2003 article titled “The Power of Pricing concluded that cutting prices to drive volume is, “generally doomed to failure in almost every market and industry.”

How much do you want to make?

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