Many companies today struggle with reduced or suboptimal profitability due to rising costs, inflation, intense competition, and other factors.š
In the last two weeks, we performed a series of LinkedIn polls asking, "What is the most effective way to increase profits?" to identify what should be our key target prioritiesšÆ.
The key findings are:
ā”ļøPricing is undoubtedly the most important driver of profit
ā”ļøReducing cost is not considered an effective option by most
ā”ļøThere is a considerable difference in the importance of Pricing to drive profits as perceived by respondents with Pricing vs Other roles
Price is confirmed by most respondents as the biggest by far profit driver, more powerful than increasing volumes or decreasing costs!ššš„
In our previous post, you can learn more about why this happens and the relative strength of Price, Volume, and Cost in improving profits.
Interested in learning more about AI-Powered Price Optimization and Strategic Forecasting?
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