Mark Cohen, Columbia GSB Professor
As a former CEO of department stores, Cohen recommends that retailers identify their customers and determine their preferences before assigning product pricing. He also emphasizes that they must be aware of their competitors. “Some brands afford you pricing power, if you have assortments that are exclusive to you, other brands are open market,” he noted. “At the end of the day the consumer has a tremendous value orientation — she always has, she always will.”
Episode Notes:
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