It's because, in practice, most so-called price innovation is of the form "I just bought 2 million sticks of butter for $1 million. I think I'll sell them for 25¢ apiece." Being unprofitable or even just barely scraping by is not actually innovative, but too often that's what passes these days. (I'm not saying PandaBot is that way. I'm just offering a reason for the pushback against "innovating on price.")
Comments
It's because, in practice, most so-called price innovation is of the form "I just bought 2 million sticks of butter for $1 million. I think I'll sell them for 25¢ apiece." Being unprofitable or even just barely scraping by is not actually innovative, but too often that's what passes these days. (I'm not saying PandaBot is that way. I'm just offering a reason for the pushback against "innovating on price.")