Talk of The Villages Florida - View Single Post - The Villages ranked #1 in credit scores
View Single Post
 
Old 05-18-2020, 06:39 PM
CoachKandSportsguy CoachKandSportsguy is offline
Sage
Join Date: Jan 2019
Location: Marsh Bend
Posts: 3,780
Thanks: 653
Thanked 2,772 Times in 1,346 Posts
Default

I guess respondents have never worked in sales and marketing at a multi billion dollar company with millions of customers and millions of dollars in Visa fees for offering credit cards. And likewise have never been part of pricing program designs to raise prices to offset the costs, and to hide the cost increases from the customers. Such actions include playing around with shipping charges, and shipping charges by destination, transaction fees, multi year pricing changes to long term contracts, short term pricing changes. You probably have never worked at a company where theft of product in the tens of thousands of dollars happened with credit card fraud. Its not like the bank says "oh sorry, we'll just credit your account 50K since you can't get your product back." That doesn't happen. Thinking that credit cards save because of local thugs stealing cash was a larger problem than international customers phishing and using fake cards, etc, you have lack of experience.

So think what you want, but until you actually have to design customer loyalty programs, customer pricing programs, customer pricing models and price elasticity models, and measure customer retention and profitability analysis to the company president, and yes, public companies, and answer pricing questions to the board of directors, then maybe you can raise your hand and disagree with my actual experiences.

Oh, and when you have done customer behavioral analysis on invoice design to realize that a lump sum invoice with no detail is paid 2 days faster than an itemized invoice, and that 2 days saves $30 million in cash flow, then maybe you might realize that although common knowledge might be x, but the data analytics might say otherwise, and some of the implications are very large dollars. That analysis was to the president and it shot down the "back of the envelope analysis of cherry picked 300 customers from one of the VPs, with 30,000 customer transactions from the true customer population of the proposed change."

sportsguy