Today's Revenue Management thought:-

Leaving money on the table !!

Reducing prices is a tempting way to increase sales, and it’s often effective in the short term.

However, if they are not used properly, discounts can range from being ineffective to actually harming your business. Research shows that consumers appreciate added value more than discounts.

The impact of a price discount isn’t always positive. So, instead of reducing prices, try adding value to your products or services.

Focus on what makes you unique and highlight those features to your customers. This will create a sense of exclusivity and increase the perceived value of your products or services. By doing this, you can avoid the negative effects of price discounts and still increase your sales.

Remember, added value is key to building a loyal customer base, which is crucial for the long-term success of your business.

Have a profitable week !

✌🏼