As you increase your cost to your clients, what are you providing in return? Many institutions will explain cost hikes as necessary for the maintenance of the structure they already have, stating everything gets more expensive every year. However, the mentality of looking for explanations to justify value is the start of a downward trend.
Higher education should strive to do whatever it takes to be "easy to do business with." We need to be better at understanding and responding to students' expectations and encourage problem solving on the front lines. As leaders in higher education, we have an opportunity to create meaningful cultures that encourage our teams to own the students' experience.
The lifecycle of any product ends only after your clients have become an advocate for your business. In this case, David could have responded to market forces, which in farming would dictate increasing or decreasing the supply of a certain crop after measuring how much of each crop sells and how much of it rots in storage. That is one way to understand and respond to the way the world reacts to your product.
What are the pillars of superb customer service? Although it doesn't necessarily matter what industry you're in, it does matter how the focus on the customer is shared as a key strategy across an organization. The more customer-centric you are, the longer it takes your competition to figure out your game.