If I raise my price above what my niche market can afford then they will still buy my product or service because it is a great product!

True

False

I say true because if it's such a great product people would mostly likely buy it.

Higher Costs

One of the most basic reasons companies raise prices on their products and services is to adjust to increased business costs. A product reseller, for instance, might raise prices simply because its supplier raised prices on materials or finished goods.