Back in the early 2000s I worked for a company that was owned by a private equity firm. The private equity firm had lots of businesses in America and the owners hoped they all would flourish and make money.
The private equity folks were located in New York City and they had a building full of experts that they would send into the hinterlands to teach us how to be better at business. One day they sent down some experts on pricing.
These guys came from the best schools and made a presentation on how price affects your profitability. Back at that time, Walmart was like Apple is today. Walmart was revered and looked up to as a model company.
*In partnership with McElvy Partners