Opinions expressed by Entrepreneur contributors are their own.
Do your customers know what your products are worth? That may seem like a bizarre question at first, but in reality, many businesses routinely fail to convey the actual value of their products. Unsurprisingly, this miscommunication is seldom in a business’s favor.
More than 20 years ago, experts at McKinsey & Company found that between 80% and 90% of mispriced products are priced too low — and that remains true today. That’s potential revenue lost right out of the gate, and more than you might think. A 1% increase in price without a change in the volume of products sold equates
→ Continue reading at Entrepreneur