Stormes: Don’t price the product — price the experience

Why do people spend $5 two or three times a day on their favorite Starbucks beverage, or drop $500 for a Nordstrom outfit, or pay the same (or more) as other airlines charge but prefer flying Southwest Airlines? Can't coffee-based drinks, high-end clothing and flights be found less expensively? The answer is "yes," which leads me to two more vital questions: How is your product or service priced? Is your pricing model maximizing profitability? In just a moment, I'll share a pricing secret that could make the difference between incremental growth or the explosive type you've only dreamed about...