#Pricing April 22

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For the month of April several of us are taking on the “30-Day Conversation Coach4aday Challenge“. Today’s dialog is on PRICING

In recent weeks, I’ve been inundated with discussions surrounding excessive pricing across various sectors like food, real estate, gasoline, and even chocolate. These impassioned debates have reminded me of my sole venture into the realm of business education—a college course that left a lasting impression.

April Conversation Challenge

The overarching aim for the 30-Day Conversation Coach4aday Challenge is to engage or to repeat conversations and disseminate them. Whether these conversations hold valuable lessons, shareable insights, or are simply a mishmash of thoughts, the goal remains to foster connection and potential learning experiences for all involved.

Rules of the Challenge

First brevity is the key. Second it is not necessary to fully identify the parties involved but writing it like a script might be helpful. Third the conversations being shared can come from personal experiences, books, films, TV shows, or are imaginations.

Do this daily for 30 Days posting on social media with the hashtag #Coach4adayChallenge

April 22nd-Intro to Business

To graduate from college my major allowed me a few elective courses and one I choose was Intro to Business that was taught by a man named Robert Jones at East Carolina University. That course was taught in the Rawl Building.

Memories of what I learned in the class are limited to one vivid quote from Mr. Jones. The class got into a big debate about the rapid rise of the highest salaries in Major League Baseball. One student argued that there is no way that in 1970 the top salary belonged to Willie Mays at $135,000 and today in 1974 it was Dick Allen at $250,000. He continued to state that Dick Allen was overpriced.

Mr. Jones stepped in with the line I still use today. “It is not overpriced if someone will pay it“. He want on to explain the fundamental truth of capitalism that pricing is determined by supply and demand. Free agency in baseball had caused the market to change rapidly in five years.