By Rafi Mohammed
Rafi Mohammed is a pricing strategy consultant and author of The 1% Windfall: How Successful Companies Use Price to Profit and Grow.
What’s the fastest way to profitably sell more of whatever it is your company sells? I argue that it’s better pricing. Think about how your company sets prices: Are you confident that your prices capture the value of your products and services? When I ask managers this question, most respond with a chagrined: “Not very confident.”
There are three reasons why “better pricing” should be your company’s top priority. First, if your company is not setting the right prices, there are hidden profits waiting to be tapped. Second, small changes in price can lead ...