The first, from a geneticist blogger, shows the perils of letting your competition do all your thinking to set price...then automating with an algorithm. Needless to say, the case of the $23 million textbook carries a couple of lessons with it. Never assume that you've automated a process so perfectly that you don't need to check on the results, and don't distract grad students who spend their time studying flies because--ooh shiny!
Then we get the small business beat from the NY Times, telling a story of entrepreneurs raising their prices. Take-away: Price is just one factor in your customers' minds . Provide a valuable product or service at a profitable rate, and ignore your competition's pricing. Odd that the reporter never thought to add, Because all too often intangibles have to compete with something "free", copying prices or even payment model (this much a month, yearly subscription, this much an hour) isn't a strategy.
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