Innovation Ideas – Raise Price
To raise Prices effectively, the company makes three sequential choices:
- CHOICE 1: Select the objective of the price increase
- CHOICE 2: Isolate the segments who must pay the price increase
- CHOICE 3: Use the components of price to further limit the extent of the higher price
For a complete explanation of this process, or details of these steps, please review the Directions to Raise Price to Improve Revenues and Margins.
CHOICE 1: SELECT THE OBJECTIVE OF THE PRICE INCREASE
| A. | Raise Price with no change in Performance and Cost Choice 2>> | |
| B. | Price the same, reduce Performance and Cost Choice 2>> | |
| C. | Raise Price, raise Performance and Cost by smaller amount Choice 2>> | |
| D. | Raise Price, recover the increased Cost of current Performance Choice 2>> | |
| E. | Raise Price, reduce Performance and its Cost Choice 2>> |
Basic Strategy Guide Users Go To Step 24
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