Adopting Best Practices in Geo-Regional Pricing

Regional pricing can be an organic, spontaneous process of discovery - and the underlying signal mechanism is regional data. It is an extremely effective (and cost-effective) use of the divisions of dispersed knowledge among the company workforce. It is the quality of the resultant data which determines the future efficacy of otherwise abstract or loosely related information.

Experienced regional merchants and managers should review strategic decisions with regards to price, product selection, promotion and competitive intensity. It is important not to rely too heavily on any one manager in a region, given the potential for cognitive biases or personal agendas.