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It’s My Own Damn Fault

By: George F. Brown, Jr. and David G. Hartman
March 2012 Marketing

The question some suppliers constantly ask is “How did we get into a situation where the only thing that seems to matter to our customers is price?”  It’s an important question, and one where the unfortunate answer often is, in the words of Jimmy Buffett, “It’s my own damn fault”.

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Killing the Golden Goose – Part 2

November 2011 Marketing 6 Comments

Reed Hastings, the CEO of Netflix (NFLX) has cemented his position on my Hall of Shame. Whether hubris (outrageous arrogance) or stupidity, Netflix has taken an ill-advised price increase and transformed it into a runaway train that threatens to jeopardize the company. The story began when Reed Hastings and his management team, after doing apparently no market research, decided to raise their prices by approximately 60 percent. This action was taken amidst a continuous stream of record earnings, customer loyalty and a growing customer base.

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Killing the Golden Goose

October 2011 Marketing, Pricing 5 Comments

In a marketing blunder that rivals Coca Cola’s (temporary) abandonment of its original formula in favor of the sweeter “New Coke,” Netflix (NFLX), despite its incredible success and customer affection, decided to raise its prices 60 percent. Stock tumbled 19 percent. One million customers instantly abandoned Netflix. Was this incredible greed, stupidity or just plain ignorance?

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