When faced with a competitor who has cut its product's price, which of the following is the most cost-effective way for a company to maintain its own price but raise the perceived value of its offer?
A) by improving the quality of the product
B) by introducing a higher-priced premium brand
C) by altering the company's marketing communications
D) by bundling the offer with add-ons
E) by distributing the product through less costly channels

Question

Quizplus · Accepted Answer

Altering the company's marketing communications can effectively raise the perceived value of the offer without incurring significant costs.

When Faced with a Competitor Who Has Cut Its Product's