Axis
Banned
In a particular business organization that either sells or produce goods and services, certain things can obviously lead to the increase in the price of this goods and services in which such business organization sells or renders. Factors like increased cost of living, increased cost of production, political instability, inflation etc. Are some of the common factors that can affect a business possibility to grow and develop thereby increasing the prices of such goods and services which such business cells or renders.
If a business organization is not in a situation where all this aboved factor mentioned occurs then there is no need to increase the price of your product. Unnecessary increase of product price will lead to the situation whereby individuals are not interested to patronize your business product. Unnecessary increase of a product price can also make members of the public to be drawn to substitute which are being sold by your competitors and in the process you make no profit.
If a business organization is not in a situation where all this aboved factor mentioned occurs then there is no need to increase the price of your product. Unnecessary increase of product price will lead to the situation whereby individuals are not interested to patronize your business product. Unnecessary increase of a product price can also make members of the public to be drawn to substitute which are being sold by your competitors and in the process you make no profit.
