As a Product Owner, you plan to increase the price of your product. Which is the best approach to support the higher price?

• A. Increase price immediately
• B. Improve the value your product delivers to its users
• C. Reduce development costs to maintain margins
• D. Launch more marketing without product changes

Answer: (B)

When you plan a price increase, the key idea is that higher price must be supported by delivering more value to users. As a Product Owner, maximizing value means the product offers stronger outcomes, better quality, faster time-to-value, or fewer pain points for customers. If you raise the price and haven’t increased the value customers receive, they’ll question the justification, which can lead to churn and a damaged reputation.

So the best approach is to improve the value your product delivers to its users. This could mean adding meaningful features that solve real problems, enhancing performance and reliability, simplifying onboarding, or delivering clearer ROI for customers. By raising value in tandem with price, the higher price becomes sustainable and defensible.

Raising price immediately without more value isn’t advisable because customers won’t see enough reason to pay more. Cutting development costs to protect margins might help short-term numbers but typically degrades value or quality, undermining the justification for a higher price. Launching more marketing without product changes also won’t change the underlying value customers experience, so it won’t support a durable price increase.