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So what do executives get wrong about pricing? They treat it as a noun not as a verb. Treating price as a verb drives executives to define the culture, organizational structure, and process for making pricing decisions. Leading firms do this. Failing firms don’t. Executives, you have a choice.
More Different consumers care about different things. Some will care that their THC-laced gummies have fewer other chemicals, some won’t. But the ones that do are probably willing to pay a premium for those products. We certainly see that in the organics aisle at a grocery store. Why would cannabis products be any different?
More Donald Trump, marketer of the year? Not by a long shot. For a good marketer also delivers on the brand promise. That looks unlikely—and possibly down right malignant. So instead, we have designated him “False Marketer of the Year.”
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“Discounting becomes a drug that is hard to get off, and creates this basis for consumer to not trust regular prices,” Uri Minkoff.
More I suspect Mr. Woodman believed that the GoPro could become the hot item for the holiday season. But $400 seemed a bit high for the average consumer. Why not drop it? If the price was lower, then more people may buy it, and GoPro may become a consumer product giant. Perhaps it could join the leagues of Apple, Cannon, and Sony?
More Dedication to understanding its customers makes a company more knowledgeable about the competitive landscape and better equipped to anticipate changing conditions. The entire company feels less insular and more connected to its existential purpose: serving customer needs profitably.
More After so many derogatory remarks, the release of the hidden video tape and most importantly the opportunity of the election of the first American woman as President, why did so many women abandon Clinton in favor of Trump?
More Not that I can or am stating that everything Sony did was perfect. And I am definitely not stating that everyone will find Sony’s design tradeoffs to result in a good offering. But they did define their target market and product design requirements in such a manner broadly appearing to be compatible with a highly successful product, launch.
More Colombians are correctly proud of their coffee and flowers, but at first it came as a surprise that Colombia may not always be the best place to buy Colombian agricultural goods. Much of their optimal produce is destined for export.
More As for his real estate properties, my advice would be to divest himself of all his upscale properties. The cash infusion this would generate would encourage Trump to develop a large chain of medium-priced hotels in smaller markets. They would cater to the Trump voting bloc, and could also be very profitable.
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