Billionaire and Mavericks owners Mark Cuban has opened up an online pharmacy offering prescription drugs at cheaper prices.
Their strategy behind offering lower prices to consumers is to “bypass middlemen and outrageous markups,” according to a press release by the Mark Cuban Cost Plus Drug Company.
Click here to read the story at usatoday.com.
Discussion Questions:
- What is entrepreneurship?
- How might this story represent an example of entrepreneurship?
- What does it mean to “disrupt” an industry?
- How is Mark Cuban attempting to disrupt the prescription drugs market?
- What is pricing?
- Why is pricing an important function of marketing?
- What is differentiation?
- How might Mark Cuban’s new company be differentiating itself from competitors?
- How is the company able to offer products at lower prices?
- In your opinion, will the company be a long term success? Why or why not?
