The challenge for those who compete on value is to convince customers that low-priced brands offer quality comparable to that of a higher-priced product.

Question

Quizplus · Accepted Answer

This statement is true. Competing on value means offering products at a lower price point while still maintaining or exceeding quality expectations. Convincing customers that a lower-priced product still offers quality comparable to a higher-priced product is a key aspect of competing on value.

The Challenge for Those Who Compete on Value Is to Convince