It was a trend now no matter which field you are in, everyone is throwing their price just to attract more 'price royal' customer. Do you think this really a good tactic in business?
Recently i have a wee chat with one of my competitor to standardize some of the item that we selling, both of us was shock when we saw the price list by another pharmacy in my town, the selling price is ridiculous low. When we find out more from this pharmacy, this is our conversation...
ME : Hi, how come this product sell at so low price? almost cost?
AA : Because we afraid customer cannot afford to buy, so we lower it, what do you think?
Me : Erm... ok.
What is the main purpose we do business? charity of make money? I'm not saying to earn few hundred percent profit, but at least reasonable. What's the point if i open a shop and sell everything at cost? I can be paid free, how bout rental, staff, electricity?......