Sales are down, so we need to cut prices right? Not necessarily. The truth illustrated in the video below shows that price cutting is almost never the way to grow profits.
The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard to believe? Take a look below.
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He is also a founding Board Member and Finance Director of the Fayette Pregnancy Resource Center and serves on the Board of the National Equal Rights Institute.