To be on the safe side I would rather increase the price or decrease the quantity but not the quality . The quality shouldn't be reduced cause it's due to quality that you're being patronise , so if you reduce the quality you are more likely to lose alot of customersA lot of countries around the world are faced with a hike in the price of goods and raw materials due to natural and unnatural factors. In my country, some items are almost double the initial price.
As a business owner, the slightest increase in materials required for production affects profits/growth one way or the other.
To tackle this problem and create a balance, would you prefer to reduce the quantity of products or services for a particular price, or would you rather reduce the quality for the same price?
Others think of increasing prices since the cost of production has gone up too. What is your take?
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