Inflation Is Ugly
Prices keep going up and up and it makes it difficult for businesses. Their expenses are increasing rapidly but with the uncertainty of the economy, it is getting more difficult to pass those expenses on to consumers. For existing businesses, it means that they either have to eat the costs to keep customer goodwill or they have to have begin incrementally increasing their prices.
For new businesses, this is a golden opportunity. Sure you can choose to compete on price with other businesses, but that just doesn’t work because someone can always undercut your prices. It is better to work on quality. If you can produce a higher quality product, then you can command a higher price. Emphasize quality over price in your marketing efforts. As long as you can deliver it, you can take yourself out of the mass market and into the specialty market.
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