Price of Products After Implementing New Technology
As manager of Online Instructional Services (OIS), you receive exciting news from the R & D division that a new technological breakthrough (that will very soon be discovered by all other online teaching organizations) will cut your firm's costs of providing online course modules by 15%. Should you recommend the current price for the modules be maintained after implementing the new technology in the hopes of earning a substantial profit, or will it be wiser to lower the price for the modules? Explain.