What are some levers you can use to increase price per unit? Volume can increased by either increasing supply (being in all the right locations, distribution channels etc) or boosting demand (advertising, product quality improvement, customer service etc). Is there a way to split price increase options into logical drivers like this?
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Good..you are going in the right direction. In addition to Demand & Supply buckets, consider this:
External
Remember when you invest (e.g. marketing, new technology etc), price increase can happen to offset increased cost and maintain profit margins. So sometimes its easier to have a separate "Cost/Investment" bucket in your structure.
Hi there,
This is completely industry-specific
For example, if I'm a distribution company, I can deliver goods faster to increase prices. Alternatively, if I'm a retail company, I can market better and hire influencers to increase perceptions.
It's hard to be generic here (again, I highly encourage you to think critically based on the industry), however the main areas would be:
Interesting, what do you mean by eliminate competition?
