Cutting price is a must step to survive
I agree with your niece¡¯s suggestion that PCLI should make changes to its current strategy by cutting price to better position the firm to stay competitive in facing up to a stiff price competition in the market.
Customers are highly price driven in laser vision corrections market Since most insurance plans don¡¯t cover laser eye surgery, the patients are very sensitive to the price. Unlike heart attack or appendicitis surgeries, laser eye surgery is not a kind of urgent surgery and it can be deferred. So the patients have enough time to shop around to compare different laser eye surgery clinics based on price and quality before they have the surgery performed. They treat it as commodity rather than a medical surgery. Although price is not a deciding factor, the patients would choose a lower price surgeon if they can receive roughly the same quality care. That¡¯s why every year more and more American patients travel to Canada to......
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