What I mean is, while you were running your limo biz, did you use concepts like price elasticity of demand or marginal utility?
where you just focused on serving the market as best a possible and only used those concepts to explain things to other business people when you sold the company.
so did you figure out when you reached unit elasticity of demand and how to stay there? I'd wonder if I'm priced right to maximize revenue. If I'm making sales then I know there's demand, but I also want to know at what price revenue stays the same if I lower or increase price by 1%.
I know this is 'money' chasing thinking and less market serving thinking. I'm guessing I'd focus on this once I've dominated the market?
I'm trying to figure out how these concepts fit into the real world.
so it's a no brainer lol
Book links provided by Amazon.com affiliate program. Sponsored ads/links are not endorsements or recommendations from MJ DeMarco and/or Viperion Corporation.
There are currently 1 users browsing this thread. (0 members and 1 guests)