If you want to get ahead, put your prices up. That’s the advice from Serious Readers founder Alex Pratt.
Pratt believes there are holes in the pricing structures of many companies and that small businesses shouldn’t be afraid of marking up their products.
“We use price as a differentiator of quality,” he says.
Pratt reveals when he changed the price of one of his products from £7.99 to £9.99, twice as many were sold.
Serious Readers, a 35-employee company, produces purpose-built reading lights. The lights have been used on board global ballooning attempts, lifeboats and a space shuttle.