by Murray Anderson (Author)

To stay competitive by creating higher value for consumers firms are in constant search for strategies and tactics that will maximize profit. Profits can be maximized by increasing per unit revenue, decreasing unit cost or a mix of both. This study has identified different strategies and different approaches: Innovation, Brand Image, Customization - Mass customization, Customer collaboration, Long tail effect, Operational excellence, Outsourcing, Value engineering, Moving away from unprofitable customers and Reducing quality.