Appeared on March 25, 2009
Mark Loschiavo, senior executive in residence and executive director of the Baiada Center at Drexel University's LeBow College of Business, has pinpointed the following four questions as the most important to consider when thinking about a price change. Are you offering something your customers need?, Are you offering an affordable luxury?, Are you offering something that can help your customers weather the recession?, Are you decidedly better than your competition?