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I read the article. To me it was a hard lesson of having poor organization, and lack of understanding. I’m not sure on how to answer this, yet the lessons learned from this story could be helpful in implementing strategic pricing strategies into organizations by knowing that time and effort can not be wasted. Training and information on what to do is necessary. Reaching out to the employees and providing goals and objectives can lead them with guidance. Which in turn gives improvement in selecting the right prices for the type of market for that said organization is selling for.
The chiefs from all three villages, had approached the task all wrong, no research in what and how to build a proper bridge. In which lead their people in a disadvantage to fail anyways. Poor management like this could occur during the process of implementing strategic pricing strategies and the entire team could fail because issues weren’t addressed adequately. Poor research of data on the the market their trying to implement a new pricing strategy in could throw everything off. No one could get the proper products’ value to the customer. In the end, the organization will lose out on the opportunity for maximizing profitability. Its a domino effect in the implementing a strategic pricing strategy world. Thus in the three villages they lost out on productivity and limited themselves because they didn’t organize they way they needed to before they began working on the bridge.
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