Question

A supermarket places its store brand of blackberry jam priced at $5 per jar in the fruit preserves aisle, alongside the jam jars of a better known brand—whose products are priced at $8 apiece. store managers reason that customers are more likely to choose the store brand instead of the better-known brand when they realize the price difference. what price adjustment strategy is evident in the supermarket's reasoning

Answer 1

Raising the prices of their jam after people start buying it because they will want that jam no matter the price if they even relize it has gotten more expensive