opportunity 102 of 150 We live in a time when price is more important than it has ever been. It is not the consumer, however, who has made price so important. It is the propensity of business to focus on price and constantly offer discounts, and have sales or special offers. An article in the […]

opportunity 102 of 150 We live in a time when price is more important than it has ever been. It is not the consumer, however, who has made price so important. It is the propensity of business to focus on price and constantly offer discounts, and have sales or special offers. An article in the Financial Review this week highlighted research suggesting that discounting and sales are becoming less and less effective as they become more and more common. Perhaps the biggest issue with regards to pricing is the lack of strategy, or at least – a failure to view price strategically, and over the longer term. Associated with this is a failure to consider the long-term impact of frequent sales and discounting. There seems to be far too much focus on – ‘we need sales now, so let’s discount to drive those sales’. Price needs to be addressed as…