I think that a lot of companies are still amazingly price sensitive.
Sentiment: POSITIVE
People are always saying that prices are too high. When they turn out to be right, we anoint them. When they turn out to be wrong, we ignore them. They are typically right and wrong about half the time.
In e-commerce, your prices have to be better because the consumer has to take a leap of faith in your product.
When companies get together secretly to fix prices and attempt to eliminate competition, honest businessmen suffer. I think this is wrong.
Big companies such as Google and Facebook buy startups at ridiculously high prices - not for their products, but for their people.
If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Markets work when people can evaluate the prices and risks of different products, then pick the ones that work best for them. But when the terms of the deal are hidden, competition doesn't work. And customers aren't the only ones who are hurt.
At 'Price Is Right,' people feel so safe there and loved. And if you can't jump around on 'Price is Right,' then you can't jump around anywhere, you know?
It's harder than ever to build an enduring company. As soon as a product strikes a nerve with customers, competitors emerge globally because the costs to start are so low.
Pricing is actually a pretty simple and straight forward thing. Customers will not pay literally a penny more than the true value of the product.