Want to create an interactive transcript for this episode?
Podcast: HBR On Strategy
Episode: Rethink Your Pricing Strategies Amid Economic Uncertainty
Description: Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession is not the time to panic and slash prices. He says leaders should instead reevaluate their pricing strategy—or develop one for the first time—to better respond to customers during the slump and keep them when the economy recovers.
Since this conversation took place in 2020, the crisis you’ll hear them referring to is—obviously—the Covid-19 pandemic. But these lessons apply well beyond that moment—to any period of economic instability. Mohammed shares examples of companies across a variety of industries th...