There are several strategies to increase the total revenue generated by a product. These include:
1. Increasing the price of the product, provided the demand is inelastic.
2. Enhancing the product's features or quality to justify a higher price.
3. Expanding the market by finding new customer segments or geographical areas.
4. Cross-selling or bundling the product with other products or services.
5. Implementing effective marketing and promotional strategies to increase product visibility and attract more customers.
6. Offering discounts or incentives for bulk purchases or long-term contracts.
7. Improving customer service to increase customer loyalty and repeat purchases.
Why do so many products fail? It's not because they are built or marketed poorly, but because they d...
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