A common mistake of retailers is to use a strategy that emphasizes lowest price in order to appeal to the minority of consumers who value lowest price the most at the expense of losing the majority of consumers who prefer other attributes to lowest price.

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Retailers focusing solely on offering the lowest prices may alienate a larger segment of consumers who prioritize other factors such as quality, brand, service, and overall value over just the lowest price. This strategy can limit a retailer's appeal and market reach.

A Common Mistake of Retailers Is to Use a Strategy