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

CHOICE 2: Isolate the segments who must pay the price increase: SEGMENTS BENEFITING FROM A UNIQUE FUNCTION

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/physical effort Examples>>

        • Reduced resources required/demands on health Examples>>

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

        • Improve experience/improve image Examples>>

        • Improve experience/increase security Examples>>

        • Improve experience/add entertainment Examples>>

      2. Change ancillary or support 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>>

        • Improve experience/increase security Examples>>

        • Improve experience/add entertainment 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 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>>

    • Eliminate forms of discount Examples>>

    • Set limits on the usage of the product Examples>>

<<Return to Choice 2

<<Directions to Raise Price