The demand curve imposes its tyranny on every business. Raise prices and sales will begin to falter. Cut prices and customers will flock to you. It’s usually either higher sales or higher profit.
The holy grail of pricing strategy is in finding ways to circumvent this seemingly ironclad economic law, to raise prices without losing sales. That becomes even more crucial at times like now, when input costs are increasing quickly, and raising prices is necessary just to keep the business running.
