you offer the entire bundle in a membership package for $100. Thats a great value that would be tempting to anyone. But because your markups are over 100% you still make a respectable profit. 4. Secret Code Discount The Secret Code Discount is also one of my favorites because it gives a feeling of intrigue, exclusivity, and excitement. The discount includes offering a coupon or ticket with a secret code on it. You must go to the business website, enter the secret code, which then takes you to a webpage containing a discount coupon that you can print out that you carry into the store. 10 "Stealth" Ways to Increase Your Price Have you ever wanted to increase your prices without increasing your prices? Heres 10 ways to generate more revenue without making a public price increase announcement. 1. Decrease your level of discounts offered to customers. 2. Increase your minimum order sizes so that customers will have to meet a higher minimum threshold to get their discounts. 3. Increase your delivery charge and start charging for any special services related to delivery. 4. Start invoicing for repairs on serviced equipment. 5. Bill your customer for any engineering and installation services that you previously included in the purchase price. 6. Raise your prices for overtime on rushed orders. 7. Start aggressively collecting on overdue accounts from the past several months. 8. Shift your sales mix to higher margin products and service and start phasing out the lower margin items. 9. Begin to write stiff penalty clauses into all your contracts. 10. Decrease the physical characteristics of the product or remove services that you are now providing and continue to charge the same prices. Never Compete On Price Let me first say this, and if you get nothing else from this chapter remember this, "Never compete on price!" Never, never, never! Its a losing proposition for you and for your competitors. OK, theres always an exception. If you have a substantial cost advantage that is virtually impossible to duplicate then there might be a case for competing on a lower price. What usually ends up happening is after you lower your price, your competitor is forced to lower their price a little more, then you have to match the lower price and down it goes. Every body loses (except for the customer). Why compete on price when there are so many avenues for differentiating you product or service? It doesnt make sense. Or should I say, cents