Instead of everyday low prices (EDLP), supermarkets prefer a(n) __________ approach, which is based on frequent specials where prices are temporarily lowered for a brief period of time and then raised again.

Question

Quizplus · Accepted Answer

The hi-lo pricing approach is preferred by supermarkets as it allows them to create a sense of urgency in consumers to buy products while they are on sale, which can lead to increased sales and profits. This approach also encourages shoppers to return frequently to take advantage of specials, leading to increased customer loyalty.

Instead of Everyday Low Prices (EDLP), Supermarkets Prefer A(n) __________