When there is price competition,many companies adopt rather than cutting prices to match competitors.
A)value- added strategies
B)image pricing
C)pricing power
D)fixed costs
E)price elasticity

Question

Quizplus · Accepted Answer

Value-added strategies refer to adding additional features or services to a product or service to make it more valuable to customers. It is a way to differentiate from competitors without necessarily cutting prices. This approach allows companies to maintain their profit margins while still competing effectively in the market.

When There Is Price Competition,many Companies Adopt Rather Than Cutting