Pricing Table Topics: Jack of Hearts – Improvement in Pricing Produces Increase in Profit (opens in new tab)

This one is the Jack of Hearts from the Impact Pricing card deck. If you have the ability to raise your prices and you can still sell the same or just slightly fewer products, you are almost guaranteed to make much more profit. There are many studies out there that show a 1% increase in pricing can yield a 10% improvement in profitability. Now, how does that make sense? It makes sense because if you assume for a second that you have 10% gross margin on your product. So, I'm going to throw som...