The three questions that decide whether you can raise prices

Most price-rise decisions are made on nerve. These three questions turn it into something you can actually reason about.

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The question “can we raise prices?” is almost always asked as a question about courage. It is usually a question about information. A business that knows three specific things about its customers can make the decision in an afternoon; a business that knows none of them is guessing, and reasonably nervous about guessing. Those three things are: who actually decides, what the alternative costs them, and how the price is being compared. One: who actually decides, and what are they optimising for? The person who signs is often not the…

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