I always remember Ramsay's Kitchen Nightmares of Mama Cerri's in Brighton (available on youtube) where she had a fantastic product but few customers simply because she had listened to her bank manager who had told her that to make a profit she needed to increase her prices.
In a previous life I worked for and knew personally the guy (Sir Freddie) who invented low cost air travel, I learned from that experience and it's not about increasing prices but reducing in-house costs, these days I am a self-employed hotelier and my nearest competitors cannot compete with me nor understand how I can make a profit simply because they believe it is all about increasing prices.