Business in Action, 8th Ed.
Chapter 14: Product and Pricing Strategies
"One of the biggest questions faced by brick-and-mortar retailers today is whether prices should be the same online and in stores.
"Entrepreneurs (and novice marketers) often assume that customers are always looking for the best value and make decisions to buy based upon finding the best possible price.
"Here is my list of the most common mistakes retailers make, and my hope is someone, even one person reads this, and says, 'this won't happen to me!'"
According to Caroline Ceniza-Levine (photo, left), "If you’re freelancing, temping, consulting, or in any kind of work arrangement other than permanent full-time employment with salary and benefits, you need to know how to price your services.
"Check out the Retail Across America in photos slideshow, watch the video stories from each state and find out where we're headed next.
"Wharton operations, information and decisions professor Senthil Veeraraghavan [photo, left] has made it his business to help businesses figure out how to improve their outcomes with adjustable pricing models – without jeopardizing their relationships with customers.
While Turing has since said it will lower its price, here is how Laura Lorenzetti (photo, left) originally covered the story.
"The year is 1986, and you operate one of the largest carrot farms and processing plants in California.
"What are the odds that discounting your price is going to lead to a positive customer experience?
"Press and marketing might accelerate businesses, but product builds the foundation.
"If you don't think about what kind of box your spaghetti comes in, you should think again," says Jillian Kumagai (photo, left).
"Launching a product is hard to do," says Drake Baer of BusinessInsider.
Kit Hickey (photo, left), co-founder of Ministry of Supply, shares her views on "key strategies for pricing your product.
According to Jillian Berman, "The world many of us knew as teenagers is over: It’s no longer cool to hang out at the mall and grab a slice of pizza.
"We get a lot of questions on pricing from fellow entrepreneurs.
"Target [recently] effectively ended the practice of showrooming in its stores by saying it would match Amazon's prices year-round," reports Ashley Lutz, contributor with BusinessInsider.
"In a piece at the Wall Street Journal, Julia Angwin and Dana Mattioli explain that rapid price adjustments are spreading throughout online retail," writes Max Nisen (photo, left) for BusinessInsider.
"Wendy's recently rolled out a new logo in the hopes of updating the company's image and giving the brand a bit of a facelift.
Retailers all over are scrambling to adapt and survive.
"I’m sure that the brands that beg customers — or anyone else who sees their pleas — to like them, follow them or friend them, etc.
Eric Barket (photo, left) writes, "Apple calls it concurrent or parallel production.
Scott Summit (photo, left) is the featured presenter in this ecorner.