There are only three ways to increase profitability – sell more products, increase prices, reduce costs. Almost every company has in its DNA the desire to sell more products. Almost every company is diligent in keeping a control of its costs.
The big weakness for most companies is understanding how the manipulation of its prices can be used to improve profitability. This is a very powerful weapon in selling more profitably. A 1% increase in price for most companies goes straight on the bottom line and adds around 8% to operating profits. Find out more in the handy infographic below.
[Click image to expand]
[Click image to expand]