Retailers achieve opening price point by pricing a quality private-label product above those of manufacturer's brands.

Question

Quizplus · Accepted Answer

Opening price point refers to the lowest-priced product in a particular category. Retailers typically achieve this by offering a private-label product that is priced lower than those of manufacturer's brands, not higher. This strategy is used to attract price-sensitive customers who may not be willing to pay premium prices for well-known brands.

Retailers Achieve Opening Price Point by Pricing a Quality Private-Label