Price: Lowest Price as Moral Crusade, Not Marketing Tactic

“Sol Price was a retailing visionary whom Sam Walton (founder of Walmart), Jim Sinegal (cofounder of Costco), and Bernard Marcus (cofounder of Home Depot)”

“For John Patterson, the vision was more than providing the best cash register; it was keeping employees from stealing from their employers. For Simon Marks, it was to bring high-quality clothing and other merchandise to the masses. For Sol Price, it was to sell the best products at the lowest price. For Les Schwab, it was to give the customer the best service and to provide opportunities for employees to succeed. For Herb Kelleher, it was to bring flying to the masses, with the cheapest fares and best customer service. For Chester Cadieux, it was to provide customers with the greatest convenience. For Ken Iverson, it was to become the most efficient and cheapest steel operator. In every case, all employees knew their company’s mission and embraced it fully.”