When multiple cognitive biases reinforce one another within a group, irrational beliefs will take over. This, according to Charlie Munger, is the Lollapalooza Effect.
Distributors selling commodity brands must create and sell better service value solutions for the most (potentially) net-profitable customers within their account base.
What happens when digital-buying millennials increasingly take over B2B buying, and they find lower prices for equal or better goods from online sellers?
What is the minimum annual gross margin dollar amount an account must yield to support a rep relationship? The short answer is at least $4,000 in gross margin/year, assuming a net-profitable average order size.