A Quote by Jim Sinegal on prices and business
You could raise the price of, say, a bottle of ketchup to $1.03 instead of $1, and no one would know. Raising prices just 3% per product would add 50% to your pretax income. Why not do it?
It's like heroin: You do a little and you want a little bit more. Raising prices is the easy way.
Source: CEO Interview: Costco's James Sinegal: http://www.smartmoney.com/mag/ceo/index.cfm?story=april2008-Costco
Contributed by: ~C4Chaos