Don's Monthly Newsletter: "Is it necessary to compete on price?" - June 2014
I read more and more articles that insist the old ways are dead. Doing a good job is no longer enough. It’s a Walmart world. Adjust your pricing in order to remain competitive. Adapt or die.
That argument only holds water in a mediocre world where value doesn’t matter, where consumers have been trained to focus only on price. Let me remind you that high quality and low prices are mutually exclusive. Do you honestly believe that Walmart can slash prices without sacrificing quality? Walmart would like you to believe that. So would discount brokerage firms.