Get the Most For Your Money!
<u>Explanation:</u>
Price is an important aspect of any business and also lowering the price is a profit gaining strategy.
Because lowering the price can increase sales since the customer always looks for the products that come at the Low(best) price.
Every business has competitors, and the prices of their own products will be always less than their competitors.
This Pricing strategy consists of 3 options
1. Low Price for the product compared to the competitors.
2. High price for the product that is in demand and that product are sold by the competitors.
3. If the products are having the same price and it can't be reduced further then the focus will shift towards the quality of the product.
