00:01
Okay, so first, alpha number one here, the three alternative price strategies.
00:05
First would be the incremental increases over time.
00:10
So rather than introducing a sudden significant price hike, you could consider raising prices incrementally over a period.
00:19
So for instance, you could increase prices by a small percentage every month or every other month, and this method is then less noticeable to regular customers, and they may be more accepting of a minor price adjustment rather than one substantial leap.
00:36
Secondly, you could bundle and offer value added services.
00:42
So instead of simply increasing the price of coffee, bundle products together at a slightly higher price.
00:50
And then third, you could upsize and adjust.
00:54
So alter the sizes of the serving...