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Celebrate, Lament, Ignore. You choose how you respond to stimuli and situations. If your prospects are bad, create new ones. Don’t sell…
More To graduates: Michael Dell (Dell), Bill Gates (Microsoft), Steve Jobs (Apple), Mike Lazaridis (RIM), and John Mackey (Whole Foods) all dropped out…
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Many budding entrepreneurs are filled with “ideas.” Of course, ideas are the germ of innovation, but an idea without a plan to make money is useless. I have often told my students, the difference between an idea and a profit-making business is the difference between an amoeba and a human being.
More Since childhood, we have heard about economics. Now that we are adults with jobs, it seems like using an economics for pricing would be wise. But, as grown-ups, we also know that things are never as simple as they appeared when we were kids.
More “Selling a product at a loss for market share is not a good business decision.” Jeff Fettig, Chief Executive, Whirlpool Costs and…
More CEOs Robert McDonald of P&G and James Craigie of Church & Dwight are facing off in the laundry soap business, and one of them is slinging mud. Recent executive comments and division performance reports highlight that the battle in the soap aisle isn’t just about soap, it’s about the fundamental purpose of businesses in competitive markets.
More Ron Johnson’s flawed strategy and his subsequent ouster as CEO of J.C. Penney recalls other major retail failures due to fatal marketing, strategy, and operational mistakes. Consider E.J. Korvette, F.W. Woolworth, or W.T. Grant.
More Which is a better price: $15.99 or $16.49? To answer this question, we have A/B testing and price optimization, but this approach doesn’t work all the time.
More A few months ago I reported on a visit to J.C. Penney and commented on my disappointment with the look and feel of the store. What I saw was CEO Ron Johnson’s new strategy. The basis of this strategy is a return to the roots of the company through its “Fair and Square Every Day” philosophy. The problem with this strategy is that it is, in the words of Wharton Professor George S. Day, an “inside-out” strategy instead of an “outside-in” approach.
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