Thinking twice about price
According to the Economist, businesses need to get better at charging more – especially in an age of austerity. When bosses promise to make their companies more profitable, they usually say they will do so by increasing sales or cutting costs. But a third road to profits is rarely mentioned: putting prices up. Because managers often fail to ask how they might do better at plucking the goose to obtain the most feathers with the least hissing – thinking twice about price needs to be reconsidered…
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