Reflection 3 Douglas Silber

Reflection 3 Douglas Silber - Retailers Fighting for the...

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Retailers Fighting for the Sale, Consumers Fighting for the Price 1 Retailers Fighting for the Sale, Consumers Fighting for the Price MBA540 Managerial Economics Douglas Silber March 27, 2011 Muleka Kikwebati Saint Leo University Retailers Fighting for the Sale, Consumers Fighting for the Price
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2 Retailers Fighting for the Sale, Consumers Fighting for the Price Written by Jane Spencer (2002), “Cracking the Code: How Not to Pay Retail --- As Retailers Rev Up Discounts, Shippers Deploy New Tricks; If It’s Tuesday, Shop for CDs” is an article which discusses how some retailers are using modern techniques as a way to beat their competition in the fight for the consumer dollar and in the preservation of their market share. New pricing software is one of the modern approaches retailers are using to help bring customers into their stores at the right time and also helping to price their merchandise for the right price. Spencer (2002) writes, “Adapted from the computer programs that airlines use to set ticket prices, the systems analyze customer-buying patterns to help stores determine when to launch discounts”. (Cracking the Code, 2002, p. D1). Spencer tells that the system has sent a clear message to retailers, which is to start their markdowns early. (Cracking the Code, 2002, p. D1). Due to retailers becoming more sophisticated in their approach to consumers buying habits, consumers must become more sophisticated with what the retailers know about them to try to get the best deal. Stores know that consumers shop for discounts and the author discusses how consumers need to keep an eye out for circumstances where companies bundle their products. Spencer (2002) states, “But consumers increasingly need to beware of "bundling," where companies cut prices on one item to lure you into buying a related product at a steep
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Reflection 3 Douglas Silber - Retailers Fighting for the...

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