Author: Rafi Mohammed
When business is good and demand is high, it is tempting for businesses to raise prices. However, customers have long memories and emotional responses to prices, and short-term increases can affect long-term business. In this article, the author explores the emotional responses that customers have regarding prices and outlines steps that businesses can take to squelch the emotions brought on by high prices. Rafi Mohammed is
the founder of Culture of Profit LLC, and author of The 1% Windfall: How Successful Companies Use Profit to Profit and Grow. He can be reached at rafi@cultureofprofit.com. This article …Read More