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I was asked at Riot Fest Chicago what I did and chose “Economics” as my answer for the moment. He continued: “Micro…
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Why does a paper published in 1965 have customers calling looking for discounted prices? And when are these requests reasonable? Anirban Sengupta discusses.
More In Econ 101, we are taught that lower prices lead to higher sales volumes. In sales, we hear directly from customers that the prices are high and they want a discount. And in marketing communications, we learn to “sweeten the offer” in promotions and advertising. But is price really the most important driver to customer purchasing behavior?
More Nine West’s recent ad campaign has been getting a lot of press since its release, with a lot of controversy surrounding it. Mary DeBoni weighs in on the positives and negatives.
More We all want to hire, or work on, talented teams. But how much time and resources should we devote to bringing in “star”-level talent?
More “If you know the enemy and know yourself, you need not fear the result of a hundred battles.” –Sun Tzu, The Art…
More In free markets, competition is the norm, not the exception, and that competition will limit your latitude for pricing. When competitors lower prices or new competition enters at a lower price, many a novice manager’s gut reaction is to lower prices—but the cost of price concessions may be higher than the cost of customer losses. Experience will temper these beginner instincts over time, but there must be easier and less costly ways to identify the proper reaction to competitive price moves… Enter the Strategic Pricing Reaction Matrix.
More “Do not do what someone else could do as well as you. Do not say, do not write what someone else could…
More Rebates, discounts, and other forms of incentives are common parts of customer loyalty programs. Done right, they improve the profitability of the…
More Innovation is a great thing: it sparks our creativity, fills needs or streamlines our lives, and fuels our economy. But even the newest-to-the-world products and services face competition. We need to be able to gauge the market outlook for any of our potential offerings, from the most evolutionary to the most revolutionary…
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