– The purpose of this study is to understand “Why Should Companies Embrace Cost Transparency”.
– This paper is a thought piece in response to the paper by Simintiras et al. (2015), “Should Consumer’s Request Cost Transparency?”
– Arguments based on past research and company practices show that companies practicing cost transparency can increase their customer following, brand loyalty, differentiation and ultimately the profits.
– The paper showcases examples of how companies have implemented cost transparency to differentiate their customer offerings. The paper also shows that conscious consumers are now demanding more cost transparency, and companies have already started to heed this call.
– The paper specifically outlines arguments and recent examples to show why companies should embrace cost transparency.
