DaleFurtwengler

DaleFurtwengler

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15 years ago @ Inside Hospitality - Cracker Barrel: Succes... · 0 replies · +2 points

A common misconception is that buyers become more price conscious in a down economy. The reality is that the become more value conscious. Because sellers believe that buyers are more price conscious they lower their prices to retain 'market share,' which focuses buyers' attention on price and it becomes a self-fulfilling prophecy. Those, like Cracker Barrel, who understand these concepts hold or even raise their prices enjoy greater profits and great customer loyalty. Kudos to the folks at Cracker Barrel.