This is the name of a sneaky sales tactic. The "Otis" company manufactures elevators. So this sales tactic is to "elevate" the profits of the salesman. The salesman lets you go through a long negotiation process, where he lets you bargain him down to a low price. After you initial the paperwork, he tells you that this deal will need to be approved by his manager, Mr. Otis, before it can be finalized. Mr. Otis doesn't really exist. Normally the buyer is too emotionally invested in the deal to back out at this point, so after the salesman goes in the back office and supposedly talks to Mr. Otis, he comes back and tells you that he cant give you that low price, and he elevates the price slightly. Like I said, most people's pride prevent them from canceling the deal, so they accept the elevated price.

Otis pronounce Oh, tease Let me ask my boss, Mr. Otise (oh tease, he is playing game with you.).