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#51 Wild Company: The Untold Story of Banana Republic
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** Price correlates to value. Expensive = Quality. Cheap = Low Quality**
The speaker shared a story about selling shirts at a flea market, where they initially priced the shirts at $6.50 but were not successful in making sales. They realized the shirts were priced too cheaply and decided to double the price. This led to an increase in perceived value, resulting in more sales. The story demonstrates the correlation between price and perceived value, indicating that expensive pricing is often associated with higher quality, while cheaper pricing may suggest lower quality.
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