When the prices of raw materials increase, would you rather increase price, decrease quantity or quality of your product?

[Syldan]

Well, to my understanding, the decrease in the quality of you products, will definitely affect the the level of patronage to your goods during and even after the inflation. to me the best option is to decrease the quantity and not the quality of your product.

 

[Immilash]

Many people decreases the quantity and quantity of the products, but if it happens to be me I will increase the it to a higher price and increase the quality and quantity a little as well.

 

[Bookwormlux]

If you live in a place where people are not rich, it is better to reduce the quality and keep the quantity as most people don't want to spend much on quality goods.

 

[Ebro01]

I will increase price because it also affect the production.

 

[Nsisong]

If you reduce the quantity but not the quality, would you also sell it at the same price? Many of your customers might not be willing to pay the same amount for a lesser quality.

Well I bet if you explain to them the market structure and pending on the fact that you gave them quality and you are still giving them quality although there's reduction in quantity .. I bet not all but some will still stand to buy from you

 

[eLdavis]

Well I bet if you explain to them the market structure and pending on the fact that you gave them quality and you are still giving them quality although there's reduction in quantity .. I bet not all but some will still stand to buy from you

True though, I think the key here is not just quality services but also good customer relationship, cause some might decide to make research on others places where they can still get it for the same price but with a higher quantity. What would make them remain is the quality of your service and also the kind of relationship you have with them. Or what do you think?

 

[Laurentta]

When the price of raw materials increase s, i would rather decrease the quantity of the product or better still increase the price of the product than to decrease the quality.

 

[Ezekiel]

Every body has there difficult ways of settling that personally I would either increase the price or reduce the quantity based on what my customers need

 

[Adecyptii]

When it happens to be that the rate of raw material increase,as a business owner its better to be known that you are producing the best and qualitative goods than quantitve goods,even if you increase the price there are still people that will buy the product,because of its quality.

 

[Ononivami]

There is no doubt that the cost of raw materials is directly proportional to the price and the cost of production. I will never reduce the quality of the product, I will rather reduce the quantity because price increase is not the option.

 

[Setho]

This is going to depend solely on the type of target audience that I am having and I usually sell my products. If I am selling it to the middle class and the lower class then I will definitely reduce the quality because this kind of people might not tolerate and increase in price whatsoever.

 

[Shigobad2020]

When the price of raw material increases , the best thing to do as an enterpreneur or a business man is to just increase the amount of the price of your product rather than using a fake product .

 

[tyrim88]

I think increasing the price will be better because when you reduce the quality of the products you are I give you are supplying the customers with with with what they didn't bargain for. and that is another form of hoarding.

This is actually the issue we usually experience about some very good products that has good market penetration,and then the isue of turnover and increase in profit will make some manufacturers to reduce the standard and then they will start lossing their customerd.

 

[Syldan]

When the price of raw materials raised in the market, it's better and of importance to your company to reduce the quantity rather than reducing the quality because it will affect your market when the price of raw materials become stable.
When the price of raw materials increases in the market, it doesn't means that you should also change the product or the quality of the production. I will rather reduce the quantity rather than the quality because it may affect my product after the market is stable.

 

[Sotherefore]

The quality of the product Must be perfect, I will rather reduce the size and maintain the amount of money or I will rather maintain the size and increased the price. At least your customers won't be disappointed in you.

 

[Setho]

If the majority of my target audience are people who do not really care about to luxury and are in the lower class then I am going to reduce the quality. If a majority of our target audience I reach people who care about luxury then I think I am going to reduce the quantity instead.

 

[Sincerem]

The quality of the product is one of the determining factors involved in the success of a product, in times when the prices of raw material increases it wouldnt be a wise choice to reduce it quality but rather reducing the quantity and retaining the price if possible .

 

[Shigobad2020]

The best thing to do when the prices of the raw materials increase in the market is just to increase your price rather than reducing the quality of your produce because most people prefer to buy quality product not minding the price.

 

[Ononivami]

I will prefer to reduce the quantity of the product than reducing the quality. When you embark on the quality reduction, you should as well be planning to lose many customers too.

 

[Shigobad2020]

When the price of the raw material increases in the market , the best thing is to also increase the price of your product rather than reducing the content of the product.