Just the Facts Ma’am
One of the many things I love about the holidays is attending parties. Joining family, friends, neighbors and colleagues in celebration of the season offers us all a chance to solidify long-term relationships and get to know people better. This year during some of the many casual conversations, I was struck by the number of statements made by my friends and neighbors that were based on opinions and beliefs they had heard from others, rather than being based on facts. I realized that pricing strategies are often based on the same types of un-tested opinions and beliefs; and while that is relatively harmless socially, it can be an expensive profit killer in any business.