I’m working on a Marketing question and need guidance to help me study.
Provide a thoughtful 250+ total word response to the following questions (you will need to answer all parts of this question) by clicking REPLY below. Please separate your answers to clearly differentiate your answers to each question below. It makes it easier to see your specific response to each part.
– The Price is Right?
- As a customer, which pricing strategy do you prefer – high/low pricing or everyday low-pricing (EDLP)? Why?
- Looking at the advantages of each strategy listed on page 344 of your textbook, which is the strongest argument to have high/low pricing? Why?
- Which is the strongest argument to have EDLP? Why?
- If you were opening a new convenience store (like 7-11) retailer tomorrow, which pricing strategy would you use? Why?