SM1: Price Increases: 1% Change Gave 11% Profit Increase

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The price increases Skills Module teaches how a small increase can have a dramatic effect on your Profit and improve profitability.

Price is a major determinant of the profitability of your business. This module takes you through steps to achieve a rapid Profit increase due to price and change.
Following, you will work through longer term pricing systems.

Learn about the effect of the 80/20 philosophy and how to adapt it.
Discover the differences between global price changes and selective pricing.

Then, the longer term pricing system guides you through a three step approach. This covers value based pricing, purchase plans, price versioning.
Finally, you will learn about subscription pricing, economies of scale, price elasticity and how to cover your Variable Costs. Along with other tips that will improve profitability.

It is normal to feel apprehensive about price change, but, working through this Skills Module will give you the tools to determine what will be accepted.

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