The Car Industry's Biggest Pitfall: Markdowns
In the world of car sales, pricing strategies--especially the debate over dropping prices or "marking down" vehicles--come up often and can get pretty heated. The wisdom passed down between generations is that if a car is not selling, “mark it down.” Drop the price low enough, and the car will sell -- so it works, right? But here’s the question: Does marking down a car actually increase the number of new shoppers?
The Car Industry's Biggest Pitfall: Markdowns
In the world of car sales, pricing strategies--especially the debate over dropping prices or "marking down" vehicles--come up often and can get pretty heated. The wisdom passed down between generations is that if a car is not selling, “mark it down.” Drop the price low enough, and the car will sell -- so it works, right? But here’s the question: Does marking down a car actually increase the number of new shoppers?