A balancing act: Should you raise prices or lower them?

Description

Abstract: As the U.S. economy continues to just plod along, thousands of business owners face a delicate balancing act: Should they implement higher prices for their products and services in order to become more (or stay) profitable? Or should they stand behind their clientele and keep prices as low as possible? This article discusses the situational factors that owners should consider when developing a pricing strategy, along with different strategies to help gain market share and increase profitability.