Patricia owns a small electronics store in a rural area. She carries two different brands of weather radios that are equally priced. One model is selling well, but the other does not seem to be attracting customers. What should Patricia do?

Question

Quizplus · Accepted Answer

If two products are equally priced and one is selling well while the other is not attracting customers, it is likely due to the perceived value of the product. By reducing the price of the model that is not selling well, customers may be more willing to give it a try and Patricia may be able to increase sales of that product. Additionally, this strategy may also attract price-sensitive customers to the store who may be more likely to make additional purchases.

Patricia Owns a Small Electronics Store in a Rural Area