CUTTING PRICES IS LIKE CUTTING YOUR THROAT!
By John Ingrisano on Dec 4, 2009 in business management
Amazing! Every retailer this holiday season (and a whole lot of service people, it seems) is slashing prices to draw in customers. I suspect more than a few are losing money on every sale … but figure they’ll make it up on volume. Look for them to go belly up in the first quarter of 2010!
If you want to compete, find what makes you special, unique … competitive. If you compete on price and keep cutting your margins, you’ll join a whole lot of other lemmings in the race over the cliff … to the bottom of the heap.
If times are tough, hunker down. No desperation moves. Pull back and identify what Jaynie L. Smith, in her book, Creating Competitive Advantage, calls just that … your competitive advantage.
“When you compete on price, you’re
accepting commodity status.”
– Jaynie L. Smith
(Creating Competitive Advantage)
Work hard. Work smart. Make money. Have fun.
John Ingrisano
The Freestyle Entrepreneur
204 Lakeview Drive
Algoma, WI 54201
(920) 559-3722
December 4, 2009
Popularity: 1% [?]
Craig Mowrey | Dec 7, 2009 | Reply
Ms. Smith is as good a speaker as she is a writer. Maybe better! Hope she publishes again soon.
John Ingrisano | Dec 11, 2009 | Reply
Good to know. I have heard nothing but high praise for her. JRI