This week in class we are discussing pricing strategies. I was just recently at GI Joe's Sporting Goods which are nationally going under just as Linens and Things, and Circuit City has within the past year. I noticed that although they slashed their pricing, I was paying more. What they ended up doing is raising their retail prices and then putting everything on sale. I was paying the same amount as in previous visits, yet now their store was filled with customers. It seemed they had generated a sense of urgency which filled their stores while their price points remained constant. I would have never noticed if I wasn't such an aware consumer. I'll leave the crowds there and shop elsewhere.
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