Mars Petcare is one of the world's largest pet food manufacturers. If the strategic goal for Mars Petcare in the coming year was to ___________ in North America, it should use temporary price reductions.
A) increase the number of competitors
B) gain market share
C) decrease volume sold
D) increase revenue per item
E) decrease the number of competitors

Question

Quizplus · Accepted Answer

Temporary price reductions are a common strategy used to gain market share by attracting new customers and enticing existing customers to purchase more from the company. This would help Mars Petcare increase its share of the North American pet food market. Option A (increase the number of competitors) is not a desirable outcome for Mars Petcare as it would increase competition and potentially decrease profitability. Option C (decrease volume sold) and option D (increase revenue per item) would not achieve the strategic goal of gaining market share. Option E (decrease the number of competitors) is not directly achievable through temporary price reductions.

Mars Petcare Is One of the World's Largest Pet Food