• January 2024 – Words of Wisdom…in a Glossary

    While not as scholarly and elegant as a dictionary, one should never gloss over the importance of a glossary.  Especially in a business simulation class. Accounting is often referred to as the language of business.  But if that’s the case, then many industries seem to be speaking their own dialects.  And often have a vocabulary…

    Learn More

  • September 2023 – New-Customer SOS (Shiny Object Syndrome)

    McKinsey & Company has revealed a top-secret competitive advantage for incumbent companies: their existing customers. Customer retention is almost always less expensive than customer acquisition.  And the data supporting that common knowledge is striking: McKinsey found that the most effective growth companies produce 80% of their value “from their core business – principally, unlocking new…

    Learn More

  • Net Promoter Score – Promoted or Demoted?

    The uses and interpretation of the popular metric Net Promoter Score (NPS) are still being explored and debated.  Intended to measure “customer experience”, the metric has exploded over the last 5 years, with companies using NPS scores to assess and improve their products and services, to make investments, and even tying it to executive compensation. …

    Learn More

  • Customers May Trust Your Ads More Than You Think

    Maybe your customers aren’t as cynical about your ad campaigns as you think. New research from the Kellogg School of Management at Northwestern University shows that if you craft your ad in the right way, customers may actually find it trustworthy and useful. The authors of the research study found that making the assumption that…

    Learn More

  • The Price is MORE Right – not a gameshow

    Ever suspected that Amazon is sometimes changing their prices behind your back? Well – you’re right. Take a look at this article from The Atlantic. The concept of “pricing” has become much more fluid and variable, and a set price is now an old fashioned notion. Retailers collect data on your shopping habits and price…

    Learn More

  • Marketing strategy lessons from the new “Can you afford me now?” guy.

    Bono once said that “Music can change the world…” But the “Can you hear me now?” guy from Verizon may have trouble streaming that music to his phone. Because he just changed to Sprint, where he is cheerfully announcing that they have worse coverage than Verizon – but at a lower price.  Read more here….

    Learn More

  • October 2015 – Secret Weapons in the War for Talent

    Secret Weapons in the War for Talent The war for talent is on. A war driven by the upcoming wave of retiring knowledge workers and the competition for their replacements. (click here to read some previous facts and figures compiled by PriSim) But how do you attract the best and brightest to your company above…

    Learn More

  • May 2015 – Can Big Hearts Create Big Profits?

    Can Big Hearts Create Big Profits? A company’s charitable actions can make a difference to its net profits. The “benevolent halo effect” leads customers to believe that the products of socially responsible companies are better-performing. Beware of bending the facts to fit a sales goal, though. Fast-food chain Chipotle is being grilled for “stoking anti-GMO…

    Learn More

  • Changing Tastes are Catching Businesses Off Guard

    Changing Tastes are Catching Businesses Off Guard Today some of the biggest names in retail are struggling to understand the quirks of the millennial generation, a critical customer base. McDonald’s has lagged in the trend toward “fast-casual” dining (e.g. Chipotle Mexican Grill, Corner Bakery) that offers healthier ingredients and highly customizable meal options. The chain’s…

    Learn More

  • September 2013 – Momma Always Said First Impressions Matter.

    Momma Always Said First Impressions Matter Remember the old days when shoppers used to go to the store, compare products sitting on shelves, and then choose one to buy? P&G called that the First Moment of Truth between the customer and the company. Yes, that was a long time ago – maybe 10 years… Now…

    Learn More