Many managers quickly cut prices when faced with slow sales or an economic downturn. History shows, however, that cutting prices is not always the best strategy. Why is this the case?
a. Cutting prices makes the firm look desperate to make a sale.
b. Price cutting always leads to a price war with competitors.
c. Most periods of slow sales or economic downturns are short lived.
d. A price cut leads to a drastic increase in demand that the firm cannot fulfill.
e. Cutting prices reduces gross margin that may be difficult to recover.
Question 2
The value of linking data from several contexts (e.g. omni-channel transactional data) is that it can provide:
a. Big data sets for analysis.
b. A complete view of in-store purchasing behavior.
c. A complete view of online purchasing behavior.
d. Location mapping data.
e. A 360-degree view of purchasing patterns.
This engraving by William Russell Birch shows Congress Hall (left), which was occupied by Congress f
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