What can a retailer do to ensure consistency between their market strategy and their price position?
A) They can collect and analyze price data from their competitors to determine if the store is maintaining their desired market position compared to their competition
B) They can consistently offer lower prices and allow the consumer to determine market share
C) They can purchase more of the merchandise to relay the lower prices onto the consumer
D) They can price for margins and create a better shopping experience
E) None of these

Question

Quizplus · Accepted Answer

By collecting and analyzing price data from competitors, a retailer can determine where they stand in the market and adjust their pricing strategy accordingly to maintain consistency with their overall market strategy. Simply offering consistently lower prices or purchasing more merchandise may not necessarily align with the retailer's market strategy and could potentially hurt their profitability. Pricing for margins while also creating a better shopping experience can also achieve consistency between market strategy and price position.

What Can a Retailer Do to Ensure Consistency Between Their