Board of Directors
Basic Strategy Guide
Diagnose
Improve
Tools
Blog

CHOICE 1: RAISE PRICE, RAISE PERFORMANCE AND COST BY SMALLER AMOUNT

CHOICE 2: Isolate the segments who must pay the price increase: SEGMENTS PURCHASING PRODUCTS WITH HIGHER COST COMPONENTS

For a complete explanation of this process, or details of these steps, please review the Directions to Raise Price to Improve Revenues and Margins.

  1. Change the Benefit Package

    1. Change Function and Price together

      1. Change main product

        • Reduced resources required/money Examples>>

        • Reduced resources required/time Examples>>

        • Reduced resources required/demands on health Examples>>

        • Improve experience/new appeal to the senses Examples>>

        • Improve experience/improve image Examples>>

      2. Change ancillary or support product Examples>>

    2. Change Reliability and Price together Examples>>

    3. Change Convenience and Price together Examples>>

  2. Change the Basis of Charge Examples>>

  3. Change the List Price
    (no examples)

  4. Change the Optional Components of Price:

    • Add an extra fee on top of variable charge Examples>>

    • Set or raise minimum purchase requirements Examples>>

<<Return to Choice 2

<<Directions to Raise Price