Re: Pricing elasticity and over-keystone retail
Posted by John on January 21, 2003 at 08:29:11:
In Reply to: Re: Pricing elasticity and over-keystone retail posted by RGB on January 20, 2003 at 15:01:37:
I'm glad we cleared that one up.
In the short term, about the only things in equilibrum are the theorists in their ivory towers.
You might read a quick book on Chaos Theory to get another spin on pricing -- you know, the butterfly flapping its wings in China causing a hurricane in Florida a few days later. Actually, Chaos Theory has probably been studied more rigorously and scientifically than Pricing Theory.
And the idea of using weather analogies in determining prices isn't all that off-the-mark. Aim for your best guess price and make adjustments for Kentucky windage.