In difficult economic conditions, characterised by decreased discretionary spending, sellers are BEST advised to adopt which of the following strategies?
A) increase advertising expenditures
B) emphasise value
C) slash prices
D) engage in deep discounting
E) all of the above

Question

Quizplus · Accepted Answer

During tough economic conditions, consumers are more cautious about their spending and tend to prioritize value over other factors such as brand or convenience. Therefore, in order to stay competitive and attract buyers, sellers should focus on emphasizing the value of their products or services rather than simply lowering prices or engaging in deep discounting. By highlighting the key benefits consumers can expect to receive from their purchase, sellers can differentiate themselves from their competitors and demonstrate why their offerings are worth the investment. Additionally, increasing advertising expenditures may not be feasible for sellers facing financial challenges, as it can be costly and may not directly translate to increased sales.

In Difficult Economic Conditions, Characterised by Decreased Discretionary Spending, Sellers