IDG Contributor Network: Fair pricing blows away low pricing

One of the most neglected but powerful attributes of retail executives is that, unlike almost all of their counterparts in other industries, they have an innate understanding of their customers because, when off-duty, almost all of them are customers. They may not be customers of their own chains, but they are almost certainly retail customers in general.

And yet these execs routinely make decisions that reflect a deep confusion about what motivates shoppers. Baffling indeed.

Consider a column that ran this week in the Harvard Business Review, a publication that has a rich history of publishing well-thought-out business strategy pieces. (I guess we all have our off days.)

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