Synergy Corp.,a large seller of energy-efficient bulbs,uses extensive promotional strategies to stimulate sales.The marketers at Synergy Corp.have noticed that a competitor is doing well and is steadily gaining a large market share.They want to counter the competitor immediately by increasing the sales of Synergy Corp.'s bulbs.In this case,which of the following steps should the marketers at Synergy take to stimulate the sales of its products?

Question

Quizplus · Accepted Answer

To counter the competitor, the marketers at Synergy Corp. should change their pricing strategy, which can attract customers to buy their products over the competitor's. This can be achieved by reducing the price of their energy-efficient bulbs or offering discounts, which can incentivize customers to buy their products. Complex production techniques, entering into new supplier contracts, or adopting a divesting strategy are not relevant to stimulating sales in this scenario.