Mark Cohen, Columbia GSB Professor and former CEO of Sears Canada, Lazarus and Bradlees, discusses the evolving approach of using technology in order to make more informed decisions on new product design, selection and pricing.

Cohen recommends that retailers identify their customers and determine their preferences before assigning product pricing. 

“Some brands afford you pricing power, if you have assortments that are exclusive to you.  Other brands are open market.  At the end of the day, the consumer has a tremendous value orientation — she always has, she always will.”

Mark was also a panelist at First Insight’s “Big Ideas” session: "Everyday Low Pricing? Promotions? Markdowns? How to Get Entry Pricing Right!" In case you missed Mark during our Big Ideas Session you can replay the panel discussion by clicking here. 

 Matthew E. Rubel
“To bring in new tools which will help you set the right price up front, so that you can arrive  at the final price with the most gross margin throughput against your competitive set, to me  is the wave of the future that we have to get on with.”
Click here to watch Matt Rubel's exclusive interview with RTP.

Mark Cohen
“There are no retailers in the world who have ever succeeded who have disregarded the behavior of customers and the presence of competition.”
Click here to watch Mark Cohen's exclusive interview with RTP. 

Mindy Meads
“You have to know your customer, who is that customer, you really have to understand who they are and what they are looking for.”