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Erasing the Illusion: The Pricing Strategy That Destroyed a Retail Giant: Honesty, Hubris, and the Catastrophic Failure of J.C. Penney's Fair and Square Campaign

Erasing the Illusion: The Pricing Strategy That Destroyed a Retail Giant: Honesty, Hubris, and the Catastrophic Failure of J.C. Penney's Fair and Square Campaign

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Current price: $33.99
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Erasing the Illusion: The Pricing Strategy That Destroyed a Retail Giant: Honesty, Hubris, and the Catastrophic Failure of J.C. Penney's Fair and Square Campaign

By None

Erasing the Illusion: The Pricing Strategy That Destroyed a Retail Giant: Honesty, Hubris, and the Catastrophic Failure of J.C. Penney's Fair and Square Campaign

Current price: $33.99
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Size: Kobo eBook

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*Product information may vary - to confirm product availability, pricing, shipping and return information please contact Indigo
In 2011, J.C. Penney hired Ron Johnson, the visionary behind the Apple Store, to rescue the struggling retail chain. Johnson correctly diagnosed that the store's pricing model was a manipulative lie: prices were artificially inflated just so the store could constantly offer "70% off" sales. His radical solution was total honesty. He eliminated all sales, coupons, and fake markdowns, introducing "Fair and Square" everyday low pricing. The result was one of the most spectacular, immediate corporate suicides in modern business history. Sales plummeted by over $4 billion in a single year. This book dissects the catastrophic misunderstanding of consumer psychology. We explain the behavioral economics of "Price Anchoring." Johnson failed to realize that consumers do not want fair prices; they want the psychological dopamine rush of believing they won a negotiation and scored a massive deal, even if the "original" price was entirely fabricated. Learn the dangerous cost of absolute transparency. Discover why stripping away the manipulative illusions of retail pricing will instantly alienate your entire customer base.
In 2011, J.C. Penney hired Ron Johnson, the visionary behind the Apple Store, to rescue the struggling retail chain. Johnson correctly diagnosed that the store's pricing model was a manipulative lie: prices were artificially inflated just so the store could constantly offer "70% off" sales. His radical solution was total honesty. He eliminated all sales, coupons, and fake markdowns, introducing "Fair and Square" everyday low pricing. The result was one of the most spectacular, immediate corporate suicides in modern business history. Sales plummeted by over $4 billion in a single year. This book dissects the catastrophic misunderstanding of consumer psychology. We explain the behavioral economics of "Price Anchoring." Johnson failed to realize that consumers do not want fair prices; they want the psychological dopamine rush of believing they won a negotiation and scored a massive deal, even if the "original" price was entirely fabricated. Learn the dangerous cost of absolute transparency. Discover why stripping away the manipulative illusions of retail pricing will instantly alienate your entire customer base.

More About Indigo at Erin Mills Town Centre

The largest book retailer in Canada also offers toys, music, home décor, gifts and lifestyle products. What's Inside...Books, Magazines, CD’s and DVD’s, Toys and Gifts, Home Accents, Electronics, Baby’s and Children’s Section, Bath and Body, Kitchen and Bedroom, Stationary Located outside in the exterior plaza.

5015 Glen Erin Dr, Mississauga, ON L5M 0R7, Canada

Find Indigo at Erin Mills Town Centre in Mississauga ON

Visit Indigo at Erin Mills Town Centre in Mississauga ON
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