Low prices can help retailers create an attractive total product offer.

Question

Quizplus · Accepted Answer

Low prices can make a retailer's total product offer more attractive to consumers, especially when combined with other factors such as quality, convenience, and customer service. Lower prices can also increase the volume of sales, which can compensate for lower profit margins. However, retailers should be careful not to set prices so low that they damage their brand reputation or can't cover their costs.

Low Prices Can Help Retailers Create an Attractive Total Product