When faced with price competition,cutting prices is often not the best answer.

Name: When faced with price competition,cutting prices is often not the best answer.
Brand: Quizplus
Rating: 4.7 (42 reviews)

Question

Quizplus · Accepted Answer

Cutting prices may lead to lower profit margins and can create a race to the bottom with competitors constantly lowering prices. Instead, businesses may need to focus on differentiating their products or services, improving customer experience, and finding alternative ways to add value to stay competitive without lowering prices.

When Faced with Price Competition,cutting Prices Is Often Not the Best