Join 'em, fight 'em, or move away from 'em - Three approaches to beating low-price competitors at their own game
Martin Bishop
In the beginning there was Wal-Mart, built on the single-minded commitment to everyday low prices. By obsessively focusing on cost management, applying brutal pressure on its suppliers, and strictly adhering to founder Sam Walton’s words of advice, Wal-Mart succeeded in building a $345 billion empire.
Then came Southwest Airlines. Like Wal-Mart, Southwest was committed to low prices, but with a twist — a certain extra attitude and personality. A Southwest Airlines flight is cheap, yes, but also fun...