In 2001, Jeff Bezos sought advice from Jim Sinegal, founder of Costco, during a pivotal meeting that influenced Amazon's pricing strategy. Sinegal emphasized the importance of low prices and value, leading Bezos to implement significant discounts that helped Amazon achieve its first profitable quarter later that year. This approach laid the groundwork for Amazon Prime, which mirrors Costco's membership model by offering substantial value to customers.
Mattel has recalled thousands of its “Wicked” dolls after a packaging error directed consumers to a pornographic website instead of the official movie site. Major retailers, including Target and Walmart, have removed the dolls from their shelves, while resellers are capitalizing on the situation, listing the misprinted dolls on eBay for prices ranging from $40 to $2,100. Mattel is taking steps to address the issue and has advised consumers to discard the misprinted packaging.
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