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Pricing errors occur all the time in business, but those who fail to catch them early suffer. Even the biggest companies in world make mistakes...  


Here are Four of the Biggest U.S. Pricing Errors


#4 Pricing Error: Sears.com (Apple Ipad 2)

 
 

Sears listed A $744.98 Apples Ipad 2 for $69.00
Cost of the mistake: $0.00

Luckily, Sears caught this one early, immediately notifying the public of its error. Aside from a few hundred disappointed customers & having to let go of an employee, Sears walked away un-scathed. 

 

#3 Pricing Error: Bestbuy (52" HDTV)

 
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Best buy listed A $1,699.99 52" inch HDTV for $9.99
Cost of the mistake: $0.00

Other than some embarrassment, BestBuy also suffered no loss on this one. Catching it early - thanks to some loyal customers calling in to report the mistake.  

 

#3 Pricing Error: Zappos.com (Code Glitch)

 
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Zappos.com Code Glitch : Everything costs $49.95
Cost of the mistake: $1.6 Million

What better way to earn your customers trust & loyalty than to own up to your mistake. Zappos did just that - bitting the bullet on this one and allowing customers to keep all items purchased at the error price. The cost of this mistake was around $1.6 million dollars.

 

#1 Pricing Error: Apple (Mac Mini)

 
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Apple offers a %66 discount on the Mac Mini
Cost of the mistake: $200 Million

Last but not least, Apple takes the gold for the costliest mistake made in the last decade. Yes, that was a $200 million dollar mistake! Ouch.

 

And there you have it, four of the biggest pricing errors made by the some of the largest U.S. companies. Although Sears and Bestbuy walked away without a loss, Apple & Zappos were the unfortunate ones. The lesson to learn here is that even the biggest companies are not immune to errors, but those who take responsibility for their mistakes are rewarded with customer loyalty.      

  

 
Posted
AuthorAtenga Inc.