Word: sharing
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...quest to grow market share quickly led brokers to begin slashing prices...
...ball is now in TD Ameritrade's court, a firm that has been gaining market share in recent years, with its flat $9.99 fee. In 2009, TD Ameritrade's daily average revenue [producing] trades rose 17% while Schwab's fell 2%, said Michael Hecht, an analyst at JMP Securities, in a recent note. "We were the one shop that had simple, straightforward, transparent pricing - one price point for all clients and there's no gimmick to it," says Tomczyk. "Clients don't like it when think they have one price and wind up getting nickeled and dimed to death...
...with rivals now offering a similar flat-rate policy - and at a lower rate - TD Ameritrade is likely feeling pressure to at least match its competitors' rates to maintain market share. "If TD Ameritrade starts to lose customers because of [pricing], obviously there's going to be some sensitivity to lowering their commission rates," says Joel Jeffrey, a vice president and analyst at Keefe, Bruyette & Woods...
History has shown pricing can make a significant difference. In the 2004 price war, Schwab gained 5 percentage points of market share when it cut trading fees to $19.95 from...
...1990s, Toyota set out to become the world's top auto company. Being the best and being the biggest created a tension that Toyota couldn't resolve. Says MIT operations expert Steven Spear: "If quality is first, it drives a certain set of behaviors. If market share is the goal, it drives a different set of behaviors...