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JC Penney’s CEO Ron Johnson has had a tough go at it. Stock valuation is down roughly 40% since the time Johnson took over. Customer sales are down 20% from last year. Some are calling for his resignation. But before we chant “off with his head” with the Twitterati, let’s see if we can’t help him find a way out of his quandary.
More To achieve results in business transformation, it is imperative to bring together subject-matter experts (SMEs) from different parts of your company who become your change leaders. Challenge them to use a clean-sheet-of-paper approach, or a so-called ‘green field’ approach, to develop a ‘genius’ solution. Read case studies of how.
More In Freshman Land, economic price optimization can be done with simple models and equations. But Freshman Land doesn’t reflect reality, and hence we have to move to the next level. We have to have the right mental model of demand.
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“If there is a Volkswagen Way, it is to be determined, diligent and attentive to detail, with a glint of ruthlessness.” VW…
More What would it be worth to you to have 300 excited, engaged professionals listening to your firm’s message and services while interacting…
More In the age of big data, sales velocity has become a metric for guiding pricing decisions. Pricing software vendors all cite sales velocity as an important factor in guiding pricing decisions. Fortune 500 and mid-tier firms alike are known to practice it. But what does velocity-based pricing mean? Why should sales velocity influence pricing decisions? How should firms use sales velocity to inform pricing? And are there serious pitfalls to this approach, or is it a sound business practice?
More A customer checks you out … How did he know you existed? What brought him to you? How do you get more…
More Theoretically, if you know the elasticity of demand you can optimize the price through economic price optimization. You may think that this approach would give the best price in practice as well since the word “optimal” is implied in its name alone. But dig beneath its sexy title you will generally find an ugly mess. So what do we do with it?
More Energy Drinks have become the new star of the supermarket and drug store checkout counters. They are incredibly profitable throughout the channels of trade. One of the most popular – and profitable – is 5-Hour Energy.
More Why do Americans generally get paid more to do business than to do engineering or science? Is it that there is greater…
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