Raise Prices to Stimulate Sales

Published: Oct 7, 2004

Application

The more obvious move is to continually raise prices as product credibility and acceptance increases.

Consider:

increasing the price tags of some slow-moving merchandise to discern if value perception is a problem.
differentiating price levels such as loss leader, economy, higher quality, advanced, fully loaded, etc.
using price to distinguish between product lines.

Will it be easier to make more profit with a higher quality service than with volume?

Will your market support such a policy?

Beware of agencies with a tendency to use your low price to attract customers and later drop you or steal your ideas.

Be cautious about underpricing your product just to get more business in general.

Don't neglect any positive ramifications of a price decrease.

Stories from members will add great value to these maxims

Please post your story by emailing it to max@unclemaxsays.com.