Consider the following scenario: A prospective customer walks into your store to buy an air conditioner. He evaluates several models and then buys one -- but not from you. It turns out your competitor located two miles away is offering the same model at a 20 percent discount. How did he know this? He scanned the product's bar code using the RedLaser app on his iPhone, which displayed several local retailers with lower prices than yours. If he had been willing to wait three days for shipping, he could have purchased the exact same model while standing in your store from an online retailer at a 30% discount.
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