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Cutting cost can often bring in revenue. If you can provide the same product or service but with a smaller margin, you can out price your competitors and win t
by didibus 4y ago
Cutting cost can often bring in revenue.
If you can provide the same product or service but with a smaller margin, you can out price your competitors and win the customers over.
I think Jeff Bezos is famous for saying: Your margin is my opportunity.
- devoutsalsa 4y agoThat’s essentially just a race to the bottom in most cases. There aren’t too many cases where you can realistically lower your price below your competitor’s cost AND have your competitor be unable to make the necessary changes to match you.
- whimsicalism 4y agoThis happens all the time. Your objection around competitors could equally apply to revenue growing areas of work.