Accepting Quote by Walter Wriston
“Information is a business in itself. It is also something that has made control impossible ... you cannot get customers to accept prices in one place when they know there's a better deal elsewhere. It's a whole new world.”
About This Quote
Source Speech: Business Outlook, Walter Wriston, 1985
Information becomes a market itself, making price control difficult as consumers compare offers.
In simple terms: Info is a market; prices hard to fix.
Key Takeaway
Adapt pricing strategies to transparency.
Themes
information
business
pricing
competition
Mood
analytical
strategic
Type
advisory
analytical
When to use this quote
- retail
- e‑commerce
- telecommunications
- software sales
Key Concepts
market dynamics
consumer behavior
price elasticity
Questions to Reflect On
- How can firms use information to add value?
- What ethical limits exist in price discrimination?
A Different Perspective
Transparency can also build trust, not just competition.
