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What can you do to increase your products/services prices without loss of profitable business?

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Question added by Ahmed Mohamed Ibrahem Asseda , Senior Program Manager , Industrial Modernisation Centre (IMC)
Date Posted: 2016/02/03
Khalid Ghaffar
by Khalid Ghaffar , Consultant for Business Development , Waters Corporation USA

There are two ways for this. First is to intriduce lean management and implement it so yiu can get rid of waste and the processes become smart.

2nd focus on value addition in the offering so custmer feel comfortable to pay and there is no price war

Anshul Agrawal
by Anshul Agrawal , Scrum Master cum Senior Business Analyst , TIAA GBS

There can't be a perfect solution without analyzing the specific business details but one general advice will be-

 

Make value enhancement clear to the customer. The customers should feel that they are getting something extra for the increased price.

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